Fresh signs of labour market tightness in the US
News that discount fashion retailer Ross Stores has joined Wal-Mart, T.J.Maxx and Target in raising their starting wage to $9 suggests that companies are seeing tightness in the labour market. This is follows the decision this week that Los Angeles will be raising its minimum wage to one of the highest in the world by 2020. The Fed will be watching these developments closely not least because these are such large employers.
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