Economist Ricchiuto Sees Steady, Average Jobs Growth

The video discusses payroll estimates from Bloomberg, highlighting the wide range of predictions and the importance of using average forecasts to understand economic trends. It examines wage growth, noting that earnings have remained flat, and suggests looking at the Employment Cost Index for a comprehensive view. The discussion also covers economic factors like excess supply and currency competition, predicting a gradual decline in the dollar's value and its impact on inflationary pressures.

What is the significance of the Employment Cost Index as mentioned in the text?

How does the text describe the current state of wage growth?