US Economy Adds 161,000 Jobs In October
U.S. wage numbers are at their strongest growth rate since the recession. The Labor Department says average hourly wages rose 10 cents to $25.92.
The U.S. added 161,000 jobs in October and the unemployment rate fell from 5 percent to 4.9 percent. Employment continues to increase in health care, professional and business services and financial activities. The Labor Department reports the employment rate has averaged about 181,000 jobs per month in 2016, compared with the 2015 average of 229,000.
USA Today reports the salary gains are likely to lead to stronger inflation, which could cause the Federal Reserve to raise interest rates in December for the first time this year.