On the Minds of Investors - J.P. Morgan Asset Management

On the Minds of Investors

Top questions on the minds of investors

See what your peers are asking and read answers from our team of Global Market Strategists.

Featured Question

November 16, 2018

Should I worry about rising wages?
The month of October saw average hourly earnings for production and nonsupervisory workers rise by 3.2% from a year prior, the fastest rate of wage growth since April 2009. Many investors are concerned that if wage growth accelerates further, inflation will pick up in a way that ends up being problematic for the broader economy.

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Higher wages will not necessarily boost inflation

Headline PCE, implied inflation*, y/y % change

Source: BEA, BLS, FactSet, J.P. Morgan Asset Management.
*Implied inflation is calculated as the different between the y/y change in average hourly earnings of production and nonsupervisory workers and the y/y % change in productivity.
Data are as of November 15, 2018.

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