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Wage Growth Accelerated in January

We’ve been waiting for faster wage growth and now we have it. Average hourly earnings rose 0.3 percent in January and are up 2.9 percent in the past year, the largest increase for any twelve months since 2008–09. The difference is that, back then, wage growth was decelerating from an even faster pace and now we have wage growth that’s accelerating instead. Look for more acceleration in the months ahead as the effects of lower tax rates (particularly on companies) and deregulation ripple through the economy, encouraging more investment in the U.
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