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'Ignore at Your Own Peril' An overlooked economic report just revealed something big about wage growth
We've got more great news about wage growth in the economy. On Wednesday, the oft-overlooked employer costs for employee compensation, or ECEC, report from the BLS was released, showing that in March employer costs rose 4.9% year-over-year, the same pace as in December despite a general economic slowdown to start 2015. This measure is similar to the employment cost index — which showed wages rose 2.6% in the first quarter and 2.8% over the prior year — but also includes compensation shifts across industries intentionally excluded by the ECI. In a note to clients following Wednesday's report, Samuel Coffin at UBS ... (full story)
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