The October jobs report was released this morning and U.S. economy remains on the rise. The economy added 250,000 jobs this month, which was more than predicted, and unemployment remained at 3.7 percent.
November 2, 2018
Economy Booming: Wages Rise, 250K Jobs Added, Unemployment 3.7 Percent
The October jobs report was released this morning and U.S. economy remains on the rise. The economy added 250,000 jobs this month, which was more than predicted, and unemployment remained at 3.7 percent. Wages also rose 3.1 percent:
“But the bigger story may be wage growth, which has been the missing piece of the economic recovery. Average hourly earnings increased by 5 cents an hour for the month and 83 cents year over year, representing a 3.1 percent gain. The annual increase in wages was the best since 2009.”
Man, this is a really great jobs report. The job market is firing on all cylinders: Strong job growth (esp for this stage of expansion), wages rising faster, more people in labor force.
— Neil Irwin (@Neil_Irwin) November 2, 2018
This great economic news is further evidence that GOP led polices are working, contrary to the narrative Democrats are trying to push ahead of next week’s midterm election.