Arlington, Va. (June 17, 2014) - Private sector wages are expected to increase at a higher rate later this year, according to the revised second-quarter Wage Trend Indicator™ (WTI) released today by Bloomberg BNA, a leading publisher of specialized news and information.
The index rose to 99.10 (second quarter 1976 = 100) from 98.92 in the first quarter. This is the WTI's third straight quarterly gain.
“We have been experiencing steady job growth and a reduction in layoffs, and we should continue to see the labor market tighten some more,” said economist Kathryn Kobe, a consultant who maintains and helped develop Bloomberg BNA’s WTI database. 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, six of the WTI’s seven components made positive contributions to the revised second-quarter reading, while one factor was negative.
Source: BNA.com
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