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Wages Rise at Fastest Pace in Nearly a Decade

Employers add 250K jobs, above expectations, as unemployment rate remains at 3.7%
By Newser Editors and Wire Services
Posted Nov 2, 2018 7:53 AM CDT
In this file photo, job seekers fill out applications at a JobNewsUSA job fair in Miami Lakes, Fla.   (AP Photo/Lynne Sladky, File)

(Newser) – The last unemployment report before the midterms is a strong one. Employers added 250,000 jobs in October, above the forecast of 188,000, reports the Wall Street Journal. The unemployment rate itself remained at a five-decade low of 3.7%, per the AP. The influx of new job-seekers in October increased the proportion of Americans with jobs to its highest level since January 2009. What's more, wages rose 3.1% when compared to last October, the best such gain since 2009. It's the first time since the recession ended that wages rose more than 3% over a year. Average hourly earnings in the private sector increased 5 cents to $27.30. (Read more unemployment rate stories.)

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