The Federal Reserve is likely to see rising employment costs as the go-ahead for another interest rate increase
📊 The Federal Reserve is likely to see rising employment costs as the go-ahead for another interest rate increase.
According to the U.S. Labor Department, the employment cost index grew by 1.2% from July through September. Employers have been boosting wages to retain employees and keep filling opening positions. Policymakers have been struggling to keep up with the wage hike and stamp out the consistent inflation. A softening labor market is the only solace in sight.