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Softer compensation growth adds to income erosion, Gregory Daco notes

Softer compensation growth adds to income erosion, Gregory Daco notes
U.S. wage growth slows as inflation persists

The U.S. Employment Cost Index rose 0.8% quarter-on-quarter, with wage and salary growth at 0.7% and benefits increasing by 0.9%.

Gregory Daco said compensation growth has softened, exacerbating erosion of income as inflation remains a drag. Private sector wages rose 0.8%, while state and local employee wages increased 0.6%. The Employment Cost Index was up 3.4% year-on-year, its lowest level since 2021, with private wages also flat at 3.1% year-on-year.

Gregory Daco has previously analyzed market shifts, including changes in sovereign debt supply and demand at the NABE2026 conference. He also reported on South Korea’s stronger-than-expected GDP growth in Q3, driven by rising chip exports and investment. Both developments provided updates on key economic sectors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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