Wages Rise at Fastest Rate in Nearly a Decade as Hiring Jumps

Strong hiring and low unemployment are delivering U.S. workers their best pay raises in nearly a decade.

Employers shook off a September slowdown to add a robust 250,000 jobs to their payrolls in October, the Labor Department said Friday. With unemployment holding at a 49-year low and employers competing for scarce workers, wages increased 3.1% from a year earlier, the biggest year-over-year gain for average hourly earnings since 2009.

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SOURCE: Eric Morath
The Wall Street Journal