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U S Labour Costs At Highest Yo Y Growth Since 2000

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Wednesday September 6, 03:20 PM
Higher labour costs raise rate hike fears
LONDON (ShareCast) - US productivity growth slowed in the second quarter, rising at a revised 1.6% annual rate versus a 4.3% increase in Q1, but labour costs surged in the first half, according to the Labor Department today.
The government data showed non-farm productivity during the period just a touch higher than the 1.5% expected by economists and up on the previous month's initial report indicating a 1.1% rise.
Labour costs were up 4.9% following a revised 9% hike in the first quarter, taking the increase for the 12 months to 5%, the
biggest year on year increase since an identical rise in the third quarter of 2000.

I seem to recall that this was one of the main factors Ben will look at as he considers rate hikes. Could inflation only just now be hatching out? Were the hikes too little too late--the same mistake the BoE may be making.

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I think US rates are going to go far higher than people have been expecting, myself. And ours will have to follow, sooner or later.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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