Growth in US labor costs accelerates in first quarter
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Today's Q1 ECI print 'another setback in the Fed's fight against inflation' - Wells Fargo
April 30, 2024 10:15 AM EDTAnalysts at Wells Fargo said in a brief note Tuesday that the first quarter Employment Cost Index (ECI) data is another setback for the US Federal Reserve.
The US Employment Cost Index in the first quarter increased 1.2% quarter-on-quarter, above the previous reading of 0.9% and above the 0.9% forecast and 1% consensus... More
