Wage Dip May Prove Temporary as U.S. Job Outlook Brightens
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December’s disappointing drop in U.S. worker pay may prove to be a temporary bump in the road on the way to bigger increases as the jobless rate falls.
The unexpected 0.2 percent drop in hourly earnings on average last month, the biggest since records began in 2006, was probably influenced by the mix of workers on payrolls, economists said. Big gains in hiring of seasonal holiday workers, more entry-level positions and retirements of more expensive employees all probably played a role.