July 2019 – With increased wages and low inflation, American workers enjoyed an actual rise in spending power during the first quarter of 2019, according to government figures.
Labor department data released in late April showed that the employment cost index for manufacturing rose 0.9% in the first three months of 2019, the largest increase since the first quarter of 2008. The index is a measure of wages and benefits paid by businesses.
In other good news regarding manufacturing, unemployment in the sector is a low 2.9% and is expected to decrease, which suggests that additional less experienced workers will be hired in the future.
The data also showed that wages for all workers rose 1.1% in the same period.
