Wall Street frets you're getting paid too much

The Bureau of Labor Statistics reported Tuesday that wages stayed flat in July, but analysts noted that when benefits are factored in, the Employment Cost Index rose 0.7 percent, the biggest increase in six years.
 
Bloomberg Businessweek reports economists predict wages will trend up over the next few years, citing surveys of companies that find 15 percent of firms plan to increase wages "significantly" in the coming months.
 
Higher wages are good news for workers, who have seen wages fall or at best stay static in recent years. Wall Street isn't as pleased, the report states. Higher wage growth could push up interest rates, which push down stock prices. Higher unemployment rates also keep inflation low, so Wall Street hawks are more comfortable with jobless rates of more than 7 percent, according to the report. The unemployment rate in July was 6.2 percent.

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