USA Average Hourly Earnings (MoM) For August 0.2% Vs 0.3% Est.; 0.4% Prior
Portfolio Pulse from Happy Mohamed
The USA Average Hourly Earnings for August increased by 0.2%, which is lower than the estimated 0.3% and the prior month's 0.4%.
September 01, 2023 | 12:31 pm
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NEGATIVE IMPACT
The lower-than-expected increase in average hourly earnings could potentially impact the SPY ETF, as it reflects the performance of the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market and the economy. Lower-than-expected wage growth could indicate a slower economic recovery, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75