“Federal Reserve microphone” Nick Timiraos said: The Federal Reserve believes that the employment cost index is the highest quality measure of wage growth. Salary data for private sector employees excluding motivational pay occupations shows that wage growth has slowed slightly this year, but is still slightly higher than pre-pandemic growth levels.

“Federal Reserve microphone” Nick Timiraos said: The Federal Reserve believes that the employment cost index is the highest quality measure of wage growth. Salary data for private sector employees excluding motivational pay occupations shows that wage growth has slowed slightly this year, but is still slightly higher than pre-pandemic growth levels.