U.S. labor costs increased more than expected in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year...
WASHINGTON - U.S. labor costs increased more than expected in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year.
The ECI is viewed by policymakers as one of the better measures of labor market slack and a predictor of core inflation because it adjusts for composition and job-quality changes.The report followed data last week that showed price pressures heating up in the first quarter. Federal Reserve officials were due to start a two-day policy meeting on Tuesday. The U.S. central bank is expected to leave its benchmark overnight interest rate unchanged in the current 5.25%-5.
OTTAWA — India has summoned Canada's envoy in New Delhi following a large Sikh rally in Toronto attended by all three major federal party leaders. Prime Minister Justin Trudeau joined Conservative Leader Pierre Poilievre and NDP Leader Jagmeet Singh at the Khalsa Day rally in Toronto on Sunday. The rally commemorates the Sikh faith, and some participants chanted and carried banners emblazoned with slogans calling for a state separate from India, known as Khalistan.
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