US employers added more people than expected to their payrolls in October and wages grew at the fastest pace since April 2009, according to the jobs report released Friday by the Bureau of Labor Statistics.
Nonfarm payrolls increased by 250,000, the report showed, while the unemployment rate held steady at 3.7%, its lowest level since 1969. Economists had forecast that employers added 200,000 nonfarm payrolls last month, according to estimates compiled by Bloomberg.
Average hourly earnings rose by 3.1% year-on-year, the first time they’ve grown by more than 3% since April 2009. This was expected partly because wage growth was weak last October, as many of the lower-paid staff who were put out of work by Hurricane Harvey returned to their jobs.
More to come, refresh this page for the latest.
Now read:
from Viral Trendy Update https://ift.tt/2qqLMvU
via IFTTT
0 Comments