<p>In the fourth quarter of last year, the growth of labor costs in the United States slowed, helping Federal Reserve officials believe that wage pressures are gradually easing and are no longer a key driver of inflation. Data released by the U.S. Bureau of Labor Statistics on Friday showed that the Employment Cost Index, which tracks wages and benefits, increased by 3.8% year-on-year in the fourth quarter, the lowest growth rate in more than three years. On a quarter-on-quarter basis, the index rose by 0.9%, in line with the median forecast of economists, but higher than the 0.8% in the third quarter</p>

<p>In the fourth quarter, U.S. labor costs increased by 3.8% year-on-year, the lowest growth rate since 2021, indicating that wage pressures are easing and may no longer be a major driver of inflation. The quarter-on-quarter growth was 0.9%, in line with economists' predictions, but higher than the 0.8% in the third quarter</p>

The year-on-year increase in U.S. labor costs in the fourth quarter hit the lowest level since 2021