Let’ keep this economy moving forward!! JOBS not MOBS Katie Arrington for Congress

U.S. adds 250,000 jobs in October, wages rise at fastest pace in more than nine years

Market Watch Published: Nov 2, 2018 9:15 a.m. ET

Wages climb 3.1% in past 12 months due to red-hot jobs market
Wages climb 3.1% in past 12 months due to red-hot jobs market

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The U.S. economy has added millions of jobs in the past eight years, driving the unemployment rate down to a 48-year low and creating a record number of job openings. Even better, workers are getting paid more.

The numbers: The rapidly growing economy generated a robust 250,000 new jobs in October, keeping the unemployment rate at a 48-year low and pushing the increase in worker pay to the highest level in more than nine years.

Economists polled by MarketWatch had forecast a 208,000 increase in new nonfarm jobs.

Yet another strong month of hiring kept the unemployment rate at 3.7%, the lowest rate since 1969.

The creation of more than 20 million jobs since 2010 and the plunging unemployment rate are also delivering higher take-home pay for workers. The amount of money the average employee earns rose 0.2% last month to $27.30 an hour, the government said Friday.

The result: The increase in pay over the past 12 months climbed to 3.1% from 2.8%, touching 3% for the first time since the end of the Great Recession in mid-2009.

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