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Private sector workers likely will see little or no change in annual wage increases in the coming months, according to the revised first-quarter wage trend indicator released today by Bloomberg BNA, a publisher of specialized news and information.
The index rose to 98.72 (second quarter 1976 = 100) from 98.52 in the fourth quarter of 2012 in the first three months of 2013, 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.
“We are seeing some positive signs in the labor market, but there are still a lot of uncertainties in the economy,” said economist Kathryn Kobe, a consultant to BNA. “The federal budget sequester that appears to be in place for the rest of the fiscal year is going to put a crimp in things for a while.”