Oct 28, 2019 - Economy

Pay raises slow in weakening economy

Axios

People attend a job fair in Miami, Fla., in April 2019. Photo: Joe Raedle/Getty Images

Just one-fifth of the economists surveyed by the National Association for Business Economics said their companies have hired additional workers in the past three months, AP's Christopher Rugaber reports.

Why it matters: That is down from one-third in July. A broad measure of job gains also fell to its lowest level since October 2012.

Just one-third of economists said their firms had lifted pay in the past three months, down from more than half a year ago.

The big picture: Perhaps because of concerns over a weakening economy, businesses are less likely to offer higher pay, even with unemployment at a 50-year low.

Go deeper: Wage growth and job gains may have peaked

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Pay raises slow in weakening economy

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