Workers Keep Getting Big Raises, Just Not as Much as Last Year.

According to a recent report from the Labor Department, American workers are still receiving significant pay raises, although not as large as last year. Employers spent 1.1% more on wages and benefits in the third quarter of this year compared to the previous three months. This indicates that wage pressures remain strong as economic growth accelerates. However, the Federal Reserve may face challenges in lowering inflation due to these continued wage increases. The report also highlights variations in compensation trends across different regions and industries. [Extracted from the article]