Kaylee Wells

But let's remember, it's been declining for a while now after the inflationary post pandemic high.

And it's just one month.

And it's just one month.

Daniel Zhao, chief economist at Glassdoor, says slowing wage growth makes sense in a slow job market.

Daniel Zhao, chief economist at Glassdoor, says slowing wage growth makes sense in a slow job market.

the bigger concern isn't that wage growth is slowing.

the bigger concern isn't that wage growth is slowing.

It's that it's slowing while inflation is creeping up, says economist Courtney Schubert at Macro Policy Perspectives.

It's that it's slowing while inflation is creeping up, says economist Courtney Schubert at Macro Policy Perspectives.

And that's a hit to disposable income and a hit to consumer purchasing power.

And that's a hit to disposable income and a hit to consumer purchasing power.

Because if things you have to buy, like food and electricity, go up faster than your wages, your actual purchasing power goes down.

Because if things you have to buy, like food and electricity, go up faster than your wages, your actual purchasing power goes down.

And inflation is expected to get worse because of the war in the Middle East.

And inflation is expected to get worse because of the war in the Middle East.

Joe Brusuelas, chief economist for the consulting firm RSM, says it's unleashed a prodigious oil and energy shock.

Joe Brusuelas, chief economist for the consulting firm RSM, says it's unleashed a prodigious oil and energy shock.

That's when the rate of inflation exceeds the rate of job growth.

That's when the rate of inflation exceeds the rate of job growth.

So industries that rely on discretionary spending, hotels, restaurants, leisure, could weaken right at the time of year that they would be taking off.