Private-sector workers are likely to experience steady wage growth in the coming months, according to the final third quarter Wage Trend Indicator released by Bloomberg BNA, a publisher of specialized news and information.
During the second quarter, the index dropped to 98.52 from 98.67 while fluctuating between 98.40 and 98.67.
"Although we've seen slow improvement in labor market conditions, we still have major uncertainties facing the economy, most significantly the election and the fiscal cliff," says Kathryn Kobe, an economist and consultant who maintains and helped develop Bloomberg BNA's WTI database. "The unsettled political climate increases employers' uncertainty about their hiring plans."
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