(LABOR) Wage Increases Likely to Improve in 2014, WTI Predicts

Arlington, Va. (Jan. 16, 2014) ­- Workers in the private sector likely will see the rate of annual wage increases pick up later this year, according to the final fourth-quarter Wage Trend Indicator™ (WTI)released today by Bloomberg BNA, a leading publisher of specialized news and information.

The index increased for the first time since the first quarter of 2013 to 98.82 (second quarter 1976 = 100) from 98.70 in the third quarter.

“Some labor market indicators continued to improve in December, despite the weak payroll job gain reported for the month,” economist Kathryn Kobe, a consultant who maintains and helped develop Bloomberg BNA’s WTI database, said.Kobe said she expects year-over-year wage increases in the private sector overall to reach 2.0 percent or slightly more. Over the 12 months ended in the third quarter, wages rose 1.8 percent, according to the Department of Labor.

Reflecting recent economic conditions, four of the WTI’s seven components made positive contributions to the final fourth quarter reading, while two factors were negative, and one was neutral.

Source: BNA.com