Private sector workers are likely to experience higher annual pay increases in 2011, according to the final second quarter Wage Trend Indicator, which was released by the Bureau of National Affairs.
The WTI rose to 98.21, an increase from 98.01 in the first quarter, and this index has been consistently growing over the past year.
"Labor market conditions in the private sector are still improving, although very slowly," says economist Kathryn Kobe, a consultant who maintains and helped develop BNA's WTI database. "At the same time, there is a lot of uncertainty about the forward momentum in the economy, and the WTI's forecast depends on the labor market continuing to improve."
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