July Jobs Report - average hourly earnings increased 5.2%
Updated On: Feb 15, 2023
A couple of quotes:
In addition to July's robust payroll gains, average hourly earnings rose 15 cents to $32.27, pushing the annual increase from 5.1% to 5.2% and threatening to intensify inflation pressures.
Inflation hit a 40-year high of 9.1% in June. The higher prices and borrowing costs have led consumers and businesses to slow spending and have stoked recession fears.