Private-sector workers are likely to experience little or no change in the pace of annual wage growth in the near months, according to the final first-quarter Wage Trend Indicator released by Bloomberg BNA.
The data figure fell to 98.42 from 98.56 in the fourth quarter of 2011, marking the first decrease in nearly two years.
"We are still seeing slow improvements in the labor market, but the outlook for wage growth, for the moment, has hit a plateau," says economist Kathryn Kobe, a consultant who maintains and helped develop Bloomberg BNA's WTI database. "Especially for new employees starting out, wages are being depressed a little bit because of the large pool of unemployed workers."
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