U.S. labor cost growth drops to 3.5%, easing inflationary pressures
According to ChainCatcher, citing Golden Ten Data, data from the U.S. Bureau of Labor Statistics shows that the annual increase in labor costs slowed to 3.5% in the third quarter, marking the slowest growth rate in four years, with a quarter-on-quarter increase of 0.8%. This data indicates that the job market continues to cool, which helps to ease inflationary pressures. Many employers are slowing down hiring, and some companies have started layoffs, reflecting a decline in workers' confidence in job-hopping prospects.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Hyperliquid platform whales currently hold $4.868 billions in positions, with a long-short ratio of 0.94
Paradex CEO: Why DEXs Are Replacing Wall Street
