Wage growth has ebbed after historical increases globally – though some regions and countries continue to see expanding wages. In North America, the combination of still-high interest rates and slowing inflation is helping to mitigate increases in the U.S. and Canada. And yet, Mexico’s manufacturing wages increased to $4.30 per hour in February, up from $4.10 per hour in January, far above the recent historical average. Labor cost growth slowed in Germany, France, and Spain, while expenses in Italy were flat; nevertheless, unrelenting inflation and labor shortages have pushed upward European labor rates. According to multiple sources, hourly manufacturing rates across Western and Eastern European countries will inflate by an average of 8% year-on-year.