Highlights of the Q2 2015 US employment costs index data report 31 July 2015
- Prior 0.7%
- Wages 0.2% vs 0.7% prior
- Benefits 0.1% vs 0.6% prior
Poor numbers for Q2 and it's knocked the buck for nearly 40 pips down to the day's lows at 123.91
It's the slowest pace on record for wages and salaries and that's going to be a headache for the Fed and their decision on rates. Still the US can't put the numbers together to show a strong consumer and worker
Perhaps the most disappointing is the fact that the private industry fell too in the quarter. As we've seen in the UK with rising wages, the private sector has led the way ahead of the public sector. That's something you need to see as aside from the benefits to workers, it shows that firms have confidence in the economy. That's not what we have here and it should be a worry
US employments costs & wages Q/Q
