How far will unemployment need to rise to slow wage growth?
R² = 0.87 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 3 4 5 6 7 8 9 1011121314 UNEMPLOYMENT RATE (%) US UNEMPLOYMENT RATE AND WAGE GROWTH R² = 0.44 WAGE MEASURE IS EMPLOYMENT COST INDEX WAGES & SALARIES. RED DOT IS LATEST QUARTER, SEASONALLY ADJUSTED ANNUAL RATE. 2009-2019 1994-2008 FROM Q2 2020
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5
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Sources: BLS
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