Fed meeting updates: Kevin Warsh takes the helm as inflation complicates the Fed's next moveNEWS | 17 June 2026Wage growth was outpacing inflation in a few major sectors: utilities, information, and construction. Despite decent wage growth, the information sector, which includes a decent chunk of the tech and media industries, has seen declining employment in the last few years.
Inflation exceeded wage growth for the second straight month in May, at 4.2% and 3.4%, respectively. Higher energy prices, which had the largest year-over-year percentage increase since August 2022 in May, are playing a major role in inflation.
Inflation exceeded wage growth for the second straight month in May, at 4.2% and 3.4%, respectively. Higher energy prices, which had the largest year-over-year percentage increase since August 2022 in May, are playing a major role in inflation.
Wage growth was outpacing inflation in a few major sectors: utilities, information, and construction. Despite decent wage growth, the information sector, which includes a decent chunk of the tech and media industries, has seen declining employment in the last few years.
At just 2.2%, wage growth in private education and health services fell short of inflation, but that sector had the highest 12-month net job growth in May, driven by healthcare employment.
"Wage growth with a shrinking employment picture means a walled garden with little opportunity to enter, while jobs growth with sluggish wage growth means difficulty keeping up with inflation," Daniel Zhao, the chief economist at Glassdoor, said.
Some economists expect inflation to soften in the summer. Olu Sonola, US head of economic research at Fitch Ratings, said if oil prices remain near where they are now, which is below $100, "then the inflation squeeze will probably be behind us sooner than later."Author: More Stories. Every Time. Look Out For An Alert In Your Inbox The Next Time. Source
