World's Richest Economies Enjoy Biggest Pay Raise in a Decade

Tuesday, September 18, 2018

It will be interesting to see how this manifests in our local market…certainly a shortage of labor here!

From Bloomberg: Workers in the world's richest countries are getting their biggest pay bump in a decade, a step toward solving a labor market puzzle that's unnerving central bankers. As shrinking unemployment in the U.S., Japan and euro zone finally forces companies to lift wages to retain and attract staff, JPMorgan Chase & Co. reckons pay growth in advanced economies hit 2.5 percent in the second quarter, the most since the eve of 2009's worldwide recession. The bank predicts wages will accelerate 3 percent next year.

 

Cick here to read full article originally found on Bloomberg.