Bad news for the Fed Dovs: As the final quarter of 2023 draws to a close, the US experiences a discernible 0.9% increase in labor costs, diverging marginally from economists' foresight. Released by the US Department of Labor, this data follows a 1.1% surge in the preceding quarter.

The annual perspective reveals a substantial 4.2% upswing in labor costs. The enormous public spending and state job creation corners the labour market.