Sarah House | Source | Senior Economist at Wells Fargo Securities
Sarah House
Sarah is a Managing Director and Senior Economist for Wells Fargo’s Corporate and Investment Bank. Based in Charlotte, North Carolina, she covers the U.S. macro economy, including the labor market, inflation trends, and business investment. Sarah frequently speaks about the economy to the national media, including The Wall Street Journal, Bloomberg News, and National Public Radio. Prior to joining Wells Fargo in 2010, Sarah worked as a Research Associate for the Federal Reserve Bank of Richmond.
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Wells Fargo Securities (https://www.wellsfargo.com/com/securities/)
Senior Economist
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U.S. labor costs rise at fastest pace in two decades
U.S. labor costs rise at fastest pace in two decades-
Article
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The ECI includes benefits in addition to wages and salary costs, and also controls for compositional changes in the workforce. That makes it a cleaner read on the degree of labor cost pressures facing businesses. While the cooler quarterly pace of ECI suggests employment costs are not running away, it is far too early to suggest the worst is over when it comes to labor cost growth. Amid an already tight labor market and the Omicron wave dealing a setback for the labor supply outlook, wage pressures are likely to remain firmly upward over the next few quarters.
