Wage growth just hit a post-crisis high
Nov 4, 2016, 18:06 IST
Wage growth in the years after the Great Recession has remained fairly low, hovering around just 2%.
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This is most likely not high enough to support the Fed's stated inflation target of 2% year-over-year.
However, 2016 has seen wages growing at a somewhat faster rate than this, with average hourly earnings growing in a range of 2.2% to 2.6% year-over-year.
According to the October jobs report, average hourly earnings grew at a new post-crisis high of 2.8% over the previous year.
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