Employee Compensation Rose Just 3% in the Fourth Quarter

The fourth quarter’s 3% year‐​to‐​year increase in hourly wages and benefits was lower than the 3.7% average increase since 1987, and even lower than the 3.1% norm during the horrific 2008 recession. That casts considerable doubt on the notion that inviting another inverted yield curve recession is a constructive way to bring inflation down. Patience is working fine. READ MORE