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“In this case, Tony Downs has agreed to take important steps to prevent child labor violations,” department Commissioner Nicole Blissenbach said in a statement. Political Cartoons View All 1148 ImagesTony Downs “disputes and does not admit the violations of law alleged” by the labor department, according to the agreement. The investigation into Tony Downs began after the Minnesota labor department received a complaint about working conditions at the Madelia plant, according to the complaint. Investigators conducted an overnight inspection between Jan. 26 and Jan. 27, interviewed workers, documented working conditions and contacted area school districts. The labor department found that Tony Downs was aware of the issue.

Persons: Tony Downs, Nicole Blissenbach Organizations: Tony, Tony Downs Food Company, Minnesota Department of Labor, Industry, Employers Locations: Minn, Minnesota, Mankato, Madelia

☆ CNBC Daily Open: Employers are holding on to workers — and it’s costing them
▼ + stars: | 2023-09-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CFOTO | Future Publishing | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Initial jobless claims fell last week to a seasonally adjusted 216,000, according to a report by the U.S. Labor Department. In other words, the labor market still looks tight because employers are laying off fewer people and paying them more. There's now a 39.9% chance rates will go up 25 basis points then, according to the CME FedWatch tool.

Persons: There's, Brad McMillan, McMillan, Jeff Cox Organizations: AMD, Apple, CNBC, U.S . Labor Department, Federal, Nvidia, Devices, Seagate, Nasdaq, Dow Jones Industrial, Intel's, Commonwealth Financial Locations: Shanghai, China, U.S

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The S&P 500 information technology index (.SPLRCT) fell 1.9% while the Philadelphia semiconductor index (.SOX) dropped 2.8%. ET, the S&P 500 (.SPX) was down 21.95 points, or 0.49%, at 4,443.53, and the Nasdaq Composite (.IXIC) was down 176.52 points, or 1.27%, at 13,695.95. The weightage of a stock on the Dow is proportional to its share value as opposed to the market capitalization-weighted S&P 500 (.SPX.). The S&P index recorded 10 new 52-week highs and 23 new lows, while the Nasdaq recorded 16 new highs and 212 new lows.

Persons: Brendan McDermid, stoked, Rick Meckler, Alibaba, Patrick Harker, John Williams, Dow Jones, Wells, Shristi Achar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Apple, Bloomberg, Nvidia, Netflix, U.S, Cherry Lane Investments, Skyworks, Qualcomm, Labor Department, Traders, PDD Holdings, Baidu, Philadelphia Fed, New York Fed, NYSE, Thomson Locations: New York City, U.S, China, Wells Fargo, Philadelphia, McDonald's, Bengaluru

The number of Americans applying for unemployment benefits last week fell to the lowest level in seven months with the labor market seemingly resistant to the higher interest rates put in to place to cool hiring. U.S. applications for jobless claims fell by 13,000 to 216,000 for the week ending Sept. 2, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. The Fed’s rate hikes are intended to cool the job market and bring down wages, which many economists believe suppresses price growth. Overall, 1.68 million people were collecting unemployment benefits the week that ended August 26, about 40,000 fewer than the previous week.

Organizations: Labor Department, Federal Reserve Locations: U.S

☆ US jobless claims hit lowest level since February; productivity strongest in years
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +3 min

Initial claims for state unemployment benefits fell 13,000 to 216,000 in the week ended Sept. 2 from a revised 229,000 in the prior week, the Labor Department said on Thursday. That was the lowest since the same level was touched in the week ended Feb. 11 and it marked the fourth straight weekly decline. Economists polled by Reuters had forecast new claims would rise to 234,000 in the latest week. That was the lowest since the same level was hit in the week ended July 15. Overall, the jobless claims figures show the U.S. job market appears in no danger of rolling over in the near term.

Persons: Brian Snyder, Dan Burns, Chizu Nomiyama, Paul Simao Organizations: REUTERS, Labor Department, Reuters, Federal Reserve, Thomson Locations: Cambridge , Massachusetts, U.S

☆ US services sector picked up in August, along with prices
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jeenah Moon Acquire Licensing RightsSept 6 (Reuters) - The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs -- potential signs of still-elevated inflation pressures. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy. Still, Fed policymakers view the services sector as key to bringing inflation down to their 2% target, and Wednesday's ISM report does little to bolster the view that any slowdown is underway. A measure of new orders received by services businesses rose to 57.5 last month from 55.0 in July. A gauge of prices paid by services businesses for inputs increased to 58.9 in August from 56.8 in July.

Persons: Christopher Waller, Ann Saphir, Chizu Organizations: REUTERS, Institute for Supply Management, Reuters, Federal Reserve, Labor Department, PMI, Thomson Locations: New York City, U.S

☆ Waller says recent data gives Fed space to decide next interest rate move
▼ + stars: | 2023-09-05 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

In recent days Fed officials have said that while inflation is still too high, it is coming down, and they have said that any move to lift the range for the benchmark overnight interest rate depends on the data. The Fed last raised rates in late July, pushing its policy rate to the 5.25%-5.50% range. Whether interest rates go up again "depends on the data. Instead, he saw the increase as a hand-in-hand move with Fed policy actions. The Fed wants higher market rates, and in terms of what's been seen in the government bond market, "they're not going off the charts, certainly compared to where we have the policy rate."

Persons: Christopher Waller, Waller, they're, Michael S, Chizu Nomiyama, Paul Simao Organizations: Federal, U.S, CNBC, U.S . Labor Department, Fed, Thomson

The strong labor market is propping up U.S. households. “Real disposable income looks set to reaccelerate in 2024 on the back of continued solid job growth and rising real wages,” Jan Hatzius, Goldman’s chief economist, wrote in a client note. On Friday, the Labor Department reported that wage gains had cooled in August, but real wages, adjusted for inflation, are trending higher. In March, the bank raised its recession odds to 35 percent in the wake of Silicon Valley Bank’s collapse and worries that contagion could hurt other lenders. Poll numbers released on Monday by The Wall Street Journal showed that President Biden’s popularity is still sagging, partly because of his track record on the economy.

Persons: Goldman Sachs, ” Jan Hatzius, Goldman Organizations: Labor Department, Bloomberg, Wall Street Locations: United States, U.S, Bidenomics

☆ Club name Disney's dispute with Charter is bad news for both companies
▼ + stars: | 2023-09-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Bad news for Disney The ongoing carriage dispute between Charter Communications (CHTR) and Club holding Walt Disney (DIS) is bad news for both companies. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jim Cramer's, Jim Organizations: CNBC, Disney Watch Oracle, Nasdaq, Energy, West Texas, U.S ., Treasury, Labor, Disney, Charter Communications, Club, Walt Disney, JPMorgan, Watch Oracle Barclays, Oracle, Barclays Locations: Saudi, U.S

[1/7] U.S. President Joe Biden delivers remarks celebrating Labor Day and honoring America’s workers and unions at the Annual Tri-State Labor Day Parade at Sheet Metal Workers' Local Union 19, in Philadelphia, Pennsylvania, U.S., September 4, 2023. A self-described champion of labor unions, Biden addressed union workers in Philadelphia as he sought to explain his economic policies to a public worried about the economy, despite easing inflation and low unemployment levels. "It wasn't that long ago we were losing jobs in this country," Biden said ahead of a parade marking the U.S. Labor Day holiday. Economic issues are likely to play a critical role in the 2024 presidential race, a likely rematch between Biden and Trump. A Reuters/Ipsos poll last month showed that the economy, unemployment and jobs remained Americans' top concern.

Persons: Joe Biden, Joshua Roberts, Donald Trump, Biden, Trump, nibbled, Jerome Powell, Trevor Hunnicutt, Jeff Mason, Scott Malone, Tomasz Janowski Organizations: Labor, State Labor, Metal Workers, Local, REUTERS, Rights, U.S, Biden, Reuters, Trump, Republican, Workers, International Union Local, week's Labor Department, Milwaukee Journal, Sentinel, Republicans, Thomson Locations: Philadelphia , Pennsylvania, U.S, Philadelphia, America, China, Pennsylvania, Rehoboth Beach , Delaware

☆ Biden takes economic pitch to battleground Pennsylvania
▼ + stars: | 2023-09-04 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +3 min

[1/3] U.S. President Joe Biden gestures while boarding Air Force One as he departs for Philadelphia, Pennsylvania from Dover, Delaware, U.S., September 4, 2023. Inflation by the Fed's preferred gauge, however, has moved down to 3.3% from its peak of 7% last summer. U.S. job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, according to data released by the Labor Department last week. The White House notes inflation-adjusted income is up 3.5% since Biden came into office in January 2021, with lower-wage workers benefiting, and the unemployment rate is close to a 50-year low. Pennsylvania and a handful of other political battleground states that fluctuate between supporting Democrats and Republicans in presidential elections will help determine who leads the country after next year.

Persons: Joe Biden, Joshua Roberts, Biden, Donald Trump, Jerome Powell, Jeff Mason, Mary Milliken, Deepa Babington Organizations: Air Force, REUTERS, Labor, Florida, Hurricane Idalia, Democrat, AFL, White, Republicans, Democratic, Labor Department, Milwaukee Journal, Sentinel, Reuters, Pennsylvania, Thomson Locations: Philadelphia , Pennsylvania, Dover , Delaware, U.S, REHOBOTH BEACH , Delaware, Philadelphia, Delaware, Pennsylvania, what’s

☆ The Fed likely won’t raise rates this month — but November is another matter
▼ + stars: | 2023-09-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Last week’s economic data increasingly gave investors hope that the Federal Reserve could hold interest rates steady this month, following a hike in July that brought rates to their highest level in 22 years. It’s hard to say definitively if or when the central bank will hike interest rates again this year. The Fed could hold rates steady for the rest of the year if both the job market and the broader economy continue to slow, helping bring down inflation. Higher for longer means keeping interest rates elevated for a prolonged period. China’s National Bureau of Statistics releases August inflation data.

Persons: hasn’t, ” Leslie Thompson, Thompson, Jerome Powell, Powell, Susan Collins, Powell’s Jackson, there’s, Raphael Bostic, Olesya Dmitracova, ” Patrick Hummel, David Lesne, Juan Perez, Carrascosa, Barnes & Noble Organizations: CNN Business, Bell, DC CNN, Federal, Financial, Spectrum Wealth Management, CNN, Fed, Kansas City, Boston, Yahoo, Finance, Atlanta Fed, Volkswagen, Renault, UBS, French, Swiss, Barnes &, The Reserve Bank of Australia, US Commerce Department, Eagle, Express, P Global, Institute for Supply Management, Bank of Canada, US Labor Department, Kroger, China’s National Bureau of Statistics Locations: Washington, Jackson Hole , Wyoming, Cape Town , South Africa, Europe

☆ What the August jobs report means for the Fed
▼ + stars: | 2023-09-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The long-robust US job market is continuing to cool, according to several economic indicators released this week. It’s clear the labor market has cooledThere are plenty of signs that the job market has continued to weaken and that momentum is largely expected to continue in the months ahead. The August jobs report showed that average hourly earnings grew at a monthly pace of just 0.2%, or 4.3% annually. “Pretty much everything in the labor market has cooled back to the pre-pandemic temperature,” Julia Pollak, chief economist at ZipRecruiter, told CNN. It’s also possible the job market holds steady if recession fears continue to fade, allowing businesses to address stubborn staffing shortages.

Persons: Jerome Powell, Powell, “, ”, Steve Wyett, ” Julia Pollak, we’ve, Nick Bunker, ” Bunker, It’s, they’ve, ” Pollak Organizations: DC CNN, Federal Reserve, Kansas City, Labor, BOK Financial, Fed, of Labor Statistics, Labor Department, CNN, Commerce Department, US, Banks Locations: Washington, Jackson Hole , Wyoming

☆ Stocks stage a comeback, while two Club tech names report — and what's on tap for next week
▼ + stars: | 2023-09-02 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

All three major U.S. stock indices rebounded this past week following a lackluster August, delivering their best one-week performances since July. Here's a quick update on the past week: The August ADP employment report numbers came in lower than expected. Earnings : No Club companies report next week. Over 99% of S & P 500 companies have now reported earnings results for the second-quarter season, according to FactSet. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Nonfarm payrolls, Dow Jones, Buster's, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dow Jones, Nasdaq, Federal Reserve, Labor, U.S . Labor Department, ISM Manufacturing, Broadcom, VMware, PMI, Photonics, Akoustis Tech, GameStop, Eagle Outfitters, SAIC, Brands, ABM Industries, Kroger, KR, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Santiago, Getty Locations: U.S, Asana, ASAN, New York City

The Labor Department's report showed the August unemployment rate rose to 3.8% while wage growth slowed. The most traded stock in the S&P 500 was Tesla Inc , with $32.6 billion worth of shares exchanged during the session. For the week, the S&P 500 rose 2.50%, the Dow added 1.43% and the Nasdaq climbed 3.25%. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.1-to-one ratio. The S&P 500 posted 28 new highs and 20 new lows; the Nasdaq recorded 84 new highs and 90 new lows.

Persons: Keith Buchanan, Walt Disney, Brendan McDermid, Lululemon, Rosalind Brewer, Shristi Achar, Noel Randewich, Sruthi Shankar, Shounak Dasgupta, Richard Chang Organizations: Dell, Nasdaq, Dow, Disney, Charter Communications, Labor, Federal Reserve, GLOBALT Investments, ESPN, Charter's, Warner Bros Discovery, Paramount Global, Fox Corp, Tesla Inc, New York Stock Exchange, REUTERS, Dow Jones, Broadcom, Dell Technologies, Walgreens Boots Alliance, Thomson Locations: Atlanta, U.S, New York City, Bengaluru, Oakland , California

☆ Hollywood strike, Yellow bankruptcy likely restrained US job growth in August
▼ + stars: | 2023-09-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

As such, economists are cautioning against reading too much into any sharp deceleration in job gains when the Labor Department's publishes its closely watched employment report on Friday. Nonfarm payrolls likely increased by 170,000 jobs last month after rising 187,000 in July, according to a Reuters survey of economists. Still, employment growth would be more than the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Yellow Corp trucking filed for Chapter 11 bankruptcy in early August, leaving about 30,000 workers unemployed. "This (job growth) would be one more piece of evidence that would be consistent with that, but that also depends a lot on the upcoming inflation data."

Persons: Elizabeth Frantz, it's, Brian Bethune, Nonfarm, payrolls, Conrad DeQuadros, Dean Maki, Ellen Zentner, Morgan Stanley, Lucia Mutikani, Nick Zieminski Organizations: REUTERS, Labor, Boston College, Labor Department's Bureau of Labor Statistics, American Federation of Television, Radio Artists, Yellow Corp, Brean, Point72, Management, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Stamford , Connecticut

The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July. Nonfarm payrolls increased by 187,000 jobs in August, against expectations of 170,000 additions, according to a Reuters poll of economists. Data for July was revised to show 157,000 job additions instead of the 187,000 additions reported before. The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market. Broadcom (AVGO.O) fell 4.5% as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.

Persons: Brendan McDermid, Nonfarm, Rick Meckler, salvos, Rosalind Brewer, decliners, Shristi Achar, Sruthi Shankar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Broadcom, Dell, Dow, Nasdaq, Federal, Labor, Data, Traders, Cherry Lane Investments, Fed, Institute for Supply Management, Dow Jones, Disney, Charter Communications, ESPN, Charter's, Dell Technologies, Walgreens Boots Alliance, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ US unemployment rate rises, wage growth cools as labor market slows
▼ + stars: | 2023-09-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The labor market is slowing in response to the U.S. central bank's hefty rate hikes to cool demand in the economy. Leisure and hospitality payrolls increased by 40,000. Household employment increased by 222,000. As a result, the unemployment rate increased to 3.8%, the highest level since February 2022, from 3.5% in July. The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, increased to 62.8%.

Persons: Elizabeth Frantz, Bill Adams, Nonfarm, Lucia Mutikani, Nick Zieminski, Chizu Nomiyama, Paul Simao Organizations: REUTERS, Federal Reserve, Labor Department, Employment, Comerica Bank, Reuters, Hollywood, Reuters Graphics Reuters, Treasury, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Dallas

☆ The Big Number: $55,000
▼ + stars: | 2023-09-01 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

Reporting on the Business news of the weekMarie Solis Reporting on the Business news of the weekOn the clock with no overtime pay? That can be the reality for salaried workers who make more than about $35,000 a year. But a new proposal from the Labor Department seeks to increase that salary threshold to about $55,000. Here’s what to know →

Persons: Marie Solis Organizations: Business, Labor Department

Sept 1 (Reuters) - The U.S. Federal Reserve is likely done raising interest rates, traders bet on Friday after a government report showed the unemployment rate rose last month and wage growth cooled. Futures that settle to the Fed's policy rate had already priced in only a slight chance of a rate hike this month. "This report is likely to put the Fed on hold in September, and if we get more positive inflation news in September and October, the Fed is likely done, and we’ve seen the end of the rate hikes," said Peter Cardillo, chief market economist at Spartan Capital Securities. "In the labor market, some progress is being made in bringing demand and supply into better balance, but the job market is still strong,” she told a European Central Bank conference shortly after the latest jobs report. Traders currently see the Fed likely on hold through April 2024, with rate cuts to start in May.

Persons: we’ve, Peter Cardillo, Loretta Mester, Ann Saphir, Stephen Culp, Michael S, Lucia Mutikani, Alex Richardson, Andrea Ricci, Marguerita Choy Organizations: U.S . Federal, Labor Department, Employers, Spartan Capital Securities, Fed, Cleveland Fed, European Central Bank, Traders, Derby, Thomson

☆ 6 things to know about the job market right now: It's 'near-perfect,' economist says
▼ + stars: | 2023-09-01 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Job growth is slowingThe U.S. economy added 187,000 jobs in August, the Labor Department said Friday. Job growth is clearly losing momentum: The three-month average in August was 150,000 jobs added, versus 201,000 in June, for example, Bunker said. Further, monthly job growth still exceeds U.S. population growth, economists said. Unemployment is up — but not for bad reasonsThe unemployment rate jumped to 3.8% in August from 3.5% in July, the U.S. Labor Department said Friday. There were about 8.8 million openings in July, the fewest since March 2021, according to Labor Department data.

Persons: Mario Tama, Bunker, Julia Pollak, Lat, Aaron Terrazas, Andrew Hunter, Pollak, —, Zandi, Andrew Patterson, Hunter Organizations: Getty, Labor Department, Yellow Corp, U.S . Labor Department, Capital Economics, Workers, Vanguard, White House Council, Economic, CEA Locations: U.S, Hollywood

☆ Here's where the jobs are for August 2023 — in one chart
▼ + stars: | 2023-09-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The Labor Department said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%. The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong. "Leisure and hospitality still remains well below pre-pandemic levels of employment, and well below pre-pandemic trends in employment. That was driven by a drop of nearly 37,000 positions in trucking, which the Labor Department attributed to a business closure. The sub-category for motion picture and sound recording dropped close to 17,000 jobs, the Labor Department said.

Persons: we're, Andrew Patterson, Patterson, CNBC's Gabriel Cortes Organizations: Labor Department, Vanguard, Hollywood Locations: United States

☆ August Jobs Report U.S. Job Growth Expected to Cool
▼ + stars: | 2023-09-01 | by ( Lydia Depillis | Joe Rennison | ) www.nytimes.com time to read: +2 min

Forecasters believe that trend continued in August, estimating that the Labor Department’s monthly report on Friday will show the addition of 170,000 jobs. That would be a decrease from the 218,000-job average over the previous three months, and closer to the number needed to employ the approximately 140,000 people who enter the labor force each month. But analysts say the Federal Reserve’s push to cool rapid inflation by ratcheting up borrowing costs — and the impact on hiring — has a ways to go. Immigrants work at higher rates than the American-born population, in which labor force participation is declining as people age into retirement. Already, Americans are feeling the difference: In the Conference Board’s reading of consumer sentiment for August, the share of workers saying jobs were “hard to get” increased sharply, while the share saying jobs were “plentiful” fell.

Persons: —, ’ ”, Stephen Juneau, Bank of America Merrill Lynch, “ There’s, we’ve Organizations: Labor, Bank of America Locations: American, ”

Employers added 187,000 jobs in August, above expectations and in line with a labor market that is rebalancing back to normal, the Labor Department reported on Friday. Other labor market data released this week showed a gradual softening of demand for workers from employers. And private payroll firm ADP’s monthly jobs survey for August found employers added 177,000 jobs in the month, below expectations. “Clearly, the labor market is softening,” says Tony Welch, chief investment officer at Signature FD. The downshift reverses a period of high growth for the labor market coming out of the pandemic.

Persons: ”, Venkat Balakrishnan, Scott Hamilton, Tony Welch Organizations: Labor Department, Federal Reserve, Resources, Compensation Consulting Locations: Washington

☆ Pay Gains Are Slowing, Easing Worries on Inflation
▼ + stars: | 2023-09-01 | by ( Ben Casselman | More About Ben Casselman | ) www.nytimes.com time to read: +1 min

American workers got smaller pay increases in August. But the slowdown in wage gains is consistent with other evidence suggesting a gradual cooling in the labor market. For workers, the pain of slower wage growth is being offset, at least to some degree, by cooling inflation. Price increases outpaced pay gains for much of last year, but that trend has since reversed. Pay, adjusted for inflation, has risen in recent months; the Labor Department will release August price data later this month.

Persons: Price Organizations: Federal Reserve, Employers, Labor Department

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