Over the next few months, private-sector workers are expected to experience little or no change in annual wage, according to the revised third quarter Wage Trend Indicator released by Bloomberg BNA, a publisher of specialized news and information.
The index is now at 98.49, a decline from 98.67 in the second quarter, and it has fluctuated over the past year between 98.4 and 98.67.
"The latest reading reflects the general softness of the economy and the lack of robust labor market conditions needed to improve wage growth," says Kathryn Kobe, an economist and consultant who maintains and helped develop Bloomberg BNA's WTI database. "There's a lot of uncertainty around the U.S. election and how and when the federal government plans to remedy the fiscal cliff at the end of the year."
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