The job market may be cooling from its pandemic-era highs, but there's one important metric where workers have finally notched a win.
by Adobe showed that online prices in June grew at the slowest rate in over three years.
"All in all, 'disinflation' is having its first annual anniversary, and more decline could be in store," Ben Emons of Newedge Wealth wrote in a recent research note.To be sure, many categories of spending are still seeing rising prices. So-called core inflation, which excludes volatile food and energy prices, is growing at an annual rate of 4.8%.
"The sustained decline in inflation is encouraging news for the U.S. labor market outlook," ZipRecruiter chief economist Julia Pollak said in a report."It increases the likelihood that the Fed will be able to pause rate hikes after one final July increase, and gradually lower rates through 2024, encouraging private sector investment to pick up again. It also increases the likelihood that U.S. workers will finally receive real wage increases and see their purchasing power expand.
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