Arlington, Va. (May 20, 2014) - The pace of wage growth in
the private sector likely will accelerate later this year, according to the
preliminary second-quarter Wage Trend Indicator™ (WTI) released today by Bloomberg
BNA, a leading publisher of specialized news and information.
The index rose for the third straight quarter to 99.05
(second quarter 1976 = 100) from 98.92 in the first quarter.
“Although the labor market still isn't robust, it has been
showing more strength lately than in the recent past,” economist Kathryn Kobe,
a consultant who maintains and helped develop Bloomberg BNA’s WTI database,
said. Kobe said she expects year-over-year pay increases in the private sector
to reach 2.0 percent or slightly higher later this year, compared with the 1.7
percent gain reported for the first quarter by the Labor Department in its
employment cost index.
Reflecting recent economic conditions, four of the WTI’s
seven components made positive contributions to the preliminary second-quarter
reading, while one factor was negative and two were neutral.
Source: BNA
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