Report
US inflation-adjusted hourly earnings reportedly fell year over year for a fifth straight month
The Kobeissi Letter puts September’s decline at 0.3% year over year, while nominal hourly earnings rose 3%.
TLDR
The Kobeissi Letter says US inflation-adjusted average hourly earnings fell 0.3% year over year in September, their fifth consecutive year-over-year decline. It says nominal hourly earnings rose 3% year over year, their slowest growth since May 2021, while CPI inflation remained above 3% for six straight months.
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