MARKET DAILY

Market 04/30: Wage growth prolongs inflation

April consumer confidence index drops more than expected. US labor costs rise at fastest pace in 1 year. Treasury expected to borrow USD 243 billion in Q2.

Nhật Thanh Lê

Published on April 30, 2024

Q1/2024 labor costs +1.2% Q/Q - strongest increase in 1 year, exceeding forecast +1% and previous +0.9% Q/Q

Service sector wage growth +1.2% Q/Q from +0.8% previous quarter

Federal and local government civilian wages rise sharply: +1.4% Q/Q and +5.0% Y/Y (from +4.7% Y/Y previously)

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Market 04/30: Wage growth prolongs inflation

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