USA Average Hourly Earnings (MoM) For July 0.2% Vs 0.3% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's average hourly earnings for July increased by 0.2%, falling short of the estimated 0.3% and the prior month's 0.3%.
August 02, 2024 | 12:30 pm
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NEGATIVE IMPACT
The USA's average hourly earnings for July increased by 0.2%, which is below the estimated 0.3% and the prior month's 0.3%. This could indicate slower wage growth, potentially impacting consumer spending and overall economic growth.
The lower-than-expected wage growth could signal weaker consumer spending, which may negatively impact economic growth and investor sentiment. This could lead to short-term downward pressure on SPY.
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