Market Extra: Why stock-market bulls aren’t cheering accelerating wage growth

Stock-market investors on Friday gave a chilly reception to the February jobs report, which showed the U.S. economy adding just 20,000 jobs last month.

But many analysts and economists were quick to point out that the report was more bullish for the U.S. economy than the headline number suggested, with special attention given to rising pay for American workers, as average hourly earnings rose at their fastest rate in nearly a decade.

See:At a 10-year high, wage growth for American workers likely to keep accelerating

But what’s good for American workers isn’t necessarily good for corporations, as analysts and investors interviewed by MarketWatch warned that higher wages could contribute to an increasingly depressing picture for corporate earnings growth in 2019.

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