Wage growth is showing signs of slowing

Wages continued to rise in March but the pace has cooled slightly in recent months, suggesting employers are feeling less pressure to offer wage increases as more people return to the workforce, which could ease inflationary pressures.

Average hourly wages rose a seasonally adjusted 0.4% month on month in March, after a relatively weak 0.1% rise in February, the Labor Department said on Friday. In the previous six months, on the other hand, monthly wage growth averaged 0.5%.