Wages Rise 2.6% in 2017, Best 12-Month Gain Since 2015 Wages Rise 2.6% in 2017, Best 12-Month Gain Since 2015 – NTK Network

Wages Rise 2.6% in 2017, Best 12-Month Gain Since 2015

The American economy received some good news on Wednesday, with the announcement that U.S. workers' "wages and benefits" grew 2.6 percent in 2017.

By NTK Staff | 01.31.2018 @10:30am
Wages Rise 2.6% in 2017, Best 12-Month Gain Since 2015

U.S. workers saw the largest 12-month increase in their wages and benefits since spring of 2015, according to Labor Department data relased on Wednesday.

The Associated Press reported:

U.S. workers’ wages and benefits grew 2.6 percent last year, the fastest 12-month pace since the spring of 2015.

The 12-month gain in wages and benefits came despite a slight slowdown at the end of last year with wages and benefits rising 0.6 percent in the fourth quarter, a tiny dip from a 0.7 percent gain in the third quarter, the Labor Department reported Wednesday. Still, the 12-month gain was an improvement from a 2.2 percent gain for the 12 months ending in December 2016.

The report is good timing for the president, who brought up rising wages in his State of the Union address on Tuesday night.

“Since the election, we have created 2.4 million new jobs, including 200,000 new jobs in manufacturing alone. After years of wage stagnation, we are finally seeing rising wages.”

Some workers will see their wages go up even more in 2018, as many companies are giving out pay raises and bonuses as a result of the windfall created by the GOP tax bill passed in December.

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