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American workers are still enjoying substantial pay raises, though not as robust as in previous years, creating a complex scenario for the Federal Reserve as it grapples with inflation control. For the recruitment industry, this data carries implications that extend beyond salary discussions.
According to the Labor Department’s employment-cost index, employers increased spending on wages and benefits by 1.1% in the third quarter, surpassing the 1% gain in the second quarter. This indicates that wage pressures remain strong as the economy experiences accelerated growth.
The Federal Reserve, set to hold interest rates at a 22-year high during their upcoming policy
