Labor Costs in US Slow Down, Boosting Inflation Outlook

Labor costs in the US grew less than expected in Q3, easing inflation concerns. The Employment Cost Index rose by 0.8% after a 0.9% increase in Q2. Job quits hit a five-year low in October, supporting the Feds view that the job market isnt driving inflation. The Fed is expected to cut interest rates by 25 basis points today, bringing the rate to 3.50-3.75%. Economists predict wage growth will slow down, benefiting businesses, but price pressures remain high due to tariffs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.