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Marketwatch brings good news for the USA: American workers are finally reaping the benefits of the lowest unemployment rate and best jobs market in decades: Wages and benefits are rising at the fastest pace in a decade. Firms have sought to fill openings by offering better benefits such as more vacation time or flexible hours. When push comes to shove, they are offering higher pay. While bigger paychecks are great for workers, the US Federal Reserve is watching closely to see if rising compensation is stoking inflation. The Federal Reserve could increase U.S. interest rates if it becomes a big worry, but so far inflation remains relatively mild.
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Wages and Benefits are Rising at the Fastest Pace in a Decade
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You are a fluke of the universe; you have no right to be here.
(Score: 5, Interesting) by DeathMonkey on Monday August 06 2018, @05:04PM (7 children)
That's because the study doesn't really say what they claim it is saying.
The sub headline: Cost of labor rose at a 2.8% yearly rate as firms boost benefits
There are many things that could increase the cost of labor that don't actually translate to workers getting better stuff.
some 70% of employment costs — rose a sturdy 0.5% in the second quarter, the government said Tuesday. Enjoy those crumbs (that won't cover inflation)
The big increase was in benefits: They jumped 0.9% to mark the largest advance in four years. Or, sabotaging the ACA lead to the cost of health insurance going up. Workers get the same benefits they did before they just cost more.
(Score: 2) by DeathMonkey on Monday August 06 2018, @05:08PM
Oops, mangled that first quote. 0.5% was the increase in wages.
(Score: 3, Interesting) by MichaelDavidCrawford on Monday August 06 2018, @05:27PM (4 children)
To be completely clear: the people who now get more benefits were _already_ paid well.
Part-Time Burger Flippers don't receive benefits; salaried full-time engineers do.
Yes I Have No Bananas. [gofundme.com]
(Score: 2) by DeathMonkey on Monday August 06 2018, @05:49PM (3 children)
And to add the anecdotal. I'm paying co-pays on some of my meds again. So my healthcare insurance is demonstrably worse than a couple years ago.
(Score: 1) by khallow on Tuesday August 07 2018, @12:59AM (2 children)
OTOH, it means you're consuming less in health care and thus, lowering costs for everyone else consuming health care.
(Score: 0) by Anonymous Coward on Monday August 13 2018, @10:41AM (1 child)
(Score: 1) by khallow on Friday August 17 2018, @12:19PM
What was "inadequate" or "improper" about such health care?
(Score: 2) by JoeMerchant on Monday August 06 2018, @10:11PM
F- that. 2.8% annual cost of labor increase. In the last 5 years I've experienced a 30%+ cost of housing increase, bigger than that in the cost of gasoline, and similar increases in cost of food. But, the Fed is keeping an eye on inflation, so that's good.
🌻🌻 [google.com]