Average hourly earnings rose 0.2% for the month and 4.2% from a year ago,
Oh cool, but also the inflation rate in 2022 was 6.5%, so again, company profits are going up and people are taking home less pay, generally. Love these “feel good” articles about how well corporations are doing
I’m not sure what they mean by “payrolls”. Is it talking about the number of people on the payroll?
In other words, you didn’t read the article.
The standard “payroll” is the money going out to people. A doubling of a payroll could mean twice the employees, twice the wages, or anything in-between. You could also increase your payroll by working someone for more hours, since it’s just the money a business pays. It isn’t adjusted by wages or overtime or anything like that, it’s the raw number.
Addendum, the article states wage growth was slightly under expectations, which means it must be new hires, since if it was a staggering amount of overtime, that’d be its own headline.
