U.S. average hourly wage (annualized) in July fell short of expectations: 3.2% vs 3.5%

U.S. July average hourly wages rose 3.2% YoY, missing the 3.5% forecast. The slowdown reinforces expectations for continued Fed monetary easing.

The actual average hourly wage in the U.S. for July (on an annual basis) was 3.2%, lower than the expected 3.5% and the previous figure of 3.5%. This deviation from expectations indicates a slowdown in labor cost growth, which could reinforce market expectations that the Federal Reserve will maintain a loose monetary policy environment.