Labor Market Showing Signs of Cooling, Hourly Earning Increases Slowed: Wells Fargo

Labor Market Showing Signs of Cooling, Hourly Earning Increases Slowed: Wells Fargo
A man walks past a Wells Fargo bank in Laguna Beach, Calif., on April 1, 2022. John Fredricks/The Epoch Times
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The labor market in the United States has cooled down in recent months and dropped to February 2021 levels, according to the Wells Fargo Investment Institute.

In a note on Thursday, the bank said that while wage figures are varied, increases to average hourly earnings have slowed down in May after peaking in March. They added that this leaves wage increases now below the level of inflation.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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