Faster Wage Growth, Higher Interest Rates Forecast for 2017

Wage growth is expected to accelerate in 2017, while employment growth will slow, according to a quarterly economics briefing by the National Council on Compensation Insurance. Following a 3.1% increase in average weekly wages in 2014 and 2015, wages are expected to increase by 3.0% this year and then surge by 4.5% in 2017, as a lower unemployment rate prompts employers to offer higher wages to attract workers, according to NCCI. The NCCI report, released last month, is based on data from the U.S. Bureau of Labor Statistics, and Moody’s Analytics. The report forecasts medical inflatio...