MORE CRUMBS? Worker PAY Hits Highest Levels IN A DECADE, Grows 2.8%

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New data released by the Bureau of Labor Statistics released this week shows the US economy soaring under President Trump, with worker compensation hitting the highest levels seen since 2008.

According to CNBC, the employment cost index increased by 0.6% in the second quarter of 2018; brining the 12-month rate up to 2.8%; the largest increase seen since before the great recession.

“The employment cost index increased 0.6 percent for civilian workers in the three-month period ending in June, according to a Bureau of Labor Statistics release Tuesday. That brought the 12-month rate up to 2.8 percent, the highest level since 2.9 percent in the third quarter of 2008, amid the financial crisis and the Great Recession,” writes CNBC

“With the labor market tightening, stronger wage pressures should continue to feed through into higher inflation over the rest of this year,” added a senior US economist.

Read the full report here.