Mind the gap...U.S. wage inflation measures are diverging.
​For a prolonged period of time the FOMC stressed that labor compensation measures failed to sustainably pick up, given the underlying improvement in the employment market.The subdued wage growth rates have provided the FOMC with the necessary room to continue its ‘wait and see’ stance. But what if the official Average Hourly Earnings measures understated the underlying pace of wage acceleration?
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