A post by @FirstSquawk on X.
US AVERAGE HOURLY EARNINGS (MOM) (OCT) ACTUAL: 0.4% VS 0.1% PREVIOUS; EST 0.3%
@FirstSquawk on X
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US average hourly earnings rose 0.4% month-over-month in October, doubling the 0.1% gain in the prior month and exceeding the 0.3% consensus estimate. The stronger-than-expected wage reading points to persistent labor cost pressure, a key input for Federal Reserve inflation assessments. It matters because hotter wage growth can complicate the case for near-term rate cuts. Watch next for whether the upside surprise is revised or echoed in other labor cost gauges, and how markets reprice Fed policy expectations.
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US Average Hourly Earnings