Strong US wages growth continues

Wages growth has slowed, but was the fastest in trend terms since 2000.
Kieran Davies

Coolabah Capital

Ahead of the Fed decision on policy tomorrow morning, where it is very likely to keep the funds rate steady at a range of 5¼-5½%, US wages growth remained strong in Q3.

The Fed's preferred measure of wages - namely, the private-sector employment cost index, excluding commissions - rose by 1.1% in Q3 on CCI's seasonal adjustment, following a 1.1% rise in Q1 and a 1.2% rise in Q2.  

This meant that annualised trend wages growth was steady at 4.7% in the quarter, which, while down from last year's peak of 5.8%, is the fastest growth since 2000.  

US wages growth remains stro
US wages growth remains strong





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Kieran Davies
Chief Macro Strategist
Coolabah Capital

Based in Sydney, Kieran Davies is Chief Macro Strategist at Coolabah Capital Investments, an asset manager with 40 executives and over $8 billion in fixed-income strategies. Kieran is responsible for macroeconomic research and investment strategy,...

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