Wage Gains Pick Up as Fed Considers Rate Decision
The first quarter of the year saw an increase in worker pay and benefits, according to a report that is closely watched by Federal Reserve policy makers.
The Federal Reserve is likely to continue to raise rates next week, as wage growth and inflation remain high.
The Labor Department reported Friday that employers spent 1.2% extra on wages and benefits during the first quarter compared to the previous three months. This is a small increase from a upwardly revised 1.1% in the fourth quarter.