"The labor market is heating up with workers in short supply, but companies are still not paying up to bring in help despite one of the tightest labor markets in a generation," said Chris Rupkey, chief financial economist at MUFG Union Bank in New York. "Fed officials can rest easy that there is not any wage-based inflation on the horizon and keep the economy on course with their projections for three rate hikes in 2018."

Source: Los Angeles Times May 04, 2018 12:34 UTC