It looks increasingly like the surge in worker compensation, in late 2021 and early 2022, was a one-time bump rather than the beginning of an upward wage spiral.
If wage inflation continues to fade — admittedly, a big if — the Fed will be able to declare victory on inflation without engineering a steep economic contraction.
Growth in total compensation had its recent peak in the first quarter of 2022, at 1.4%, then rose more slowly in each subsequent quarter.
France Dernières Nouvelles, France Actualités
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