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The Bureau of Labor Statistics Employment Cost Compensation Civilian Workers YoY rose to 2.7% YoY. That is the highest reading of employment compensation since Q4 2008.
Private-sector wages and salaries rose from a year earlier by 2.8 percent, also matching the best gain of this expansion.
Give this great news about the economy, will The Fed raise their target rate at the FOMC meeting this afternoon? Not when the implied probability of a rate hike is only 2.8%.
But yes, my friends, the US Treasury 10Y-2Y curve slope is descending towards 0 basis points and possible curve inversion.
Happenings ten years time ago when the US experienced a severe recession. Yes, it has taken THIS LONG to get employment compensation back to Q4 2008 levels.
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