Here's your summary from Wages Are in the Driver’s Seat for Fed, ADP’s Richardson Says (https://www.youtube.com/watch?v=DKIcpbOZfv8) on the Bloomberg Television channel:
**TLDR:** Wages are a key factor in the Fed's decision-making process, with concerns over concentrated job growth and potential impact on inflation.
1. Job growth is becoming more concentrated, with hiring primarily driven by government and healthcare sectors.
2. Private sector job creation is slowing down, raising concerns about inflation and wage growth.
3. Wages are not falling fast enough to meet the 2% target, leading to uncertainty about future Fed decisions.
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