Job Growth Surges in October

November 2, 2018

The U.S. economy added 250,000 jobs last month, far exceeding economist predictions of 190,000. Unemployment remained unchanged at 3.7 percent, the lowest level since 1969. In the last 12 months, job growth has averaged 211,000 per month.

The bigger story may be wage increases, however. Wages and salaries have, until recently, lagged behind the rest of the economic recovery. In October, average hourly earnings increased by 5 cents an hour, with an 83 cent year-over-year increase. This marks a 3.1 percent increase, the largest annual increase since 2009.

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