Add as a preferred source on GoogleOctober Wage Gains Could Add to Inflation Pressure in U.S.
Payrolls rose by 165,000 in October, while average hourly earnings gained 0.4% from September and 3.1% year over year.
U.S. payrolls grew by 165,000 in October, and the unemployment rate was 4.1%. Wage gains could add to inflation pressure and may factor into future Federal Reserve decisions.
Average hourly earnings were 0.4% higher than in September and 3.1% above a year earlier. The Consumer Price Index (CPI) also increased 0.4% in October.
The figures leave open the possibility that wage growth could add to price pressures. Labor-market inflation pressure has also featured in a Federal Reserve official’s outlook.
Future Bureau of Labor Statistics reports and Federal Reserve statements or policy shifts could provide further signals on inflation trends.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.