Worried about inflation? Check paystubs, not just pump price
NEW YORK (AP) — Pay is going up across many industries as the economy roars out of the recession. While that’s good for workers, investors on Wall Street worry that a big and sustained gain would be a worse threat for inflation than the price spikes already seen for oil, lumber and other commodities. That’s why the upcoming monthly report on the job market, due Friday, could be an even bigger deal for markets than it usually is. Economists expect it to show a third straight month of at least 0.4% growth, the first time that would have happened since records began in 2006.