![Offices in a high-rise building in Manhattan are seen here on February 23. The Employment Cost Index rose a seasonally adjusted 1.2% last quarter](https://abc17news.b-cdn.net/abc17news.com/2024/04/cnn-L19jb21wb25lbnRzL2ltYWdlL2luc3RhbmNlcy9jbHZsZ3JyeTcwMDA0MzU2aWR2YmJqMmVp-L19jb21wb25lbnRzL2FydGljbGUvaW5zdGFuY2VzL2NsdmxjY3NtbTAwMWU0NXAzM3p2MzNyNXY-375x225.jpg)
Americans’ pay gains rose faster than expected so far this year
By Alicia Wallace, CNN (CNN) — It wasn’t just inflation starting off 2024 hot, paychecks did as well. A closely watched measure of labor costs showed that compensation growth accelerated much faster than expected during the first three months of the year, providing an unwelcome data point for Federal Reserve officials looking for inflation pressures
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