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Private sector workers likely will see annual wage increases remain close to their recent pace in the coming months, according to the final first-quarter wage trend indicator released today by Bloomberg BNA, a publisher of specialized news and information.
The index rose to 98.73 (second quarter 1976 = 100) in the first three months of 2013 from 98.52 in the fourth quarter of 2012, following declines in each of the two previous quarters. Over the past seven quarters, the forward-looking indicator has fluctuated in a narrow range from 98.47 to 98.75.
“Labor market indicators recently have been very mixed,” said economist Kathryn Kobe, a consultant to BNA. “We’re not seeing the robust growth in the economy that’s needed to boost wages.”