Severe weather contributed to January’s jump in the average hourly wage by limiting the hours that salaried employees were able to work. As their hours return to normal, annual wage growth is likely to drop from January’s 4.2% to 3.4% in February and we expect it decline to as little as 2% by the summer.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services