Bloomberg Surveillance · Friday, October 2, 2026
Slower job growth and muted wage gains are intensifying affordability concerns for the majority of the U.S. workforce. With wage growth falling below inflation, workers face pressure from both rising costs as consumers and limited opportunities in the labor market.
“That's putting downward pressure on wages. Inflation and general input cost increases is also adding to business pressures to lower wage growth. And that's why we're seeing that number come in still below inflation, causing a lot of affordability concerns for the majority of the U.S.”
“That leads to slower job growth, those lower wage gains, and again, that affordability pressure that's really put onto those workers who are seeing this come from both sides, both in the labor force and as consumers who are paying the final price for these products.”