![City workers, rush hour amid wage growth](https://reaction.life/wp-content/uploads/2023/09/shutterstock_1278966571-600x375.jpg)
Wage growth likely to reinforce the need for further monetary tightening
Sustained, elevated growth in nominal earnings has increased the likelihood despite new data also showing a cooling demand for workers.
Sustained, elevated growth in nominal earnings has increased the likelihood despite new data also showing a cooling demand for workers.
But an uptick in services inflation hints at stubborn domestic price pressures.
Still, inflationary pressure remains – and the US growth outlook for 2023 is worrying.
Upticks in inflation in the US and UK have complicated the monetary equation.
While the labour market remains tight, the latest figures signal a departure from the weird dynamics of a year ago.
Subscribe to Reaction and receive unlimited access to the site, our daily email with analysis every evening and invites to online events.
© Copyright 2024 Reaction Digital Media Limited – All Rights Reserved. Registered Company in England & Wales – Company Number: 10166531.