USA Average Hourly Earnings (MoM) For September 0.2% Vs 0.3% Est.; 0.2% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Average Hourly Earnings for September increased by 0.2%, which is lower than the estimated 0.3% and equal to the prior month's increase.
October 06, 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 overall performance of the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US economy. Lower than expected wage growth could indicate a slower economic growth, which could negatively impact the performance of the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75