A new jobs report beat expectations yet again, AND a new report shows that wages are finally trending upward after years of stagnation!
Watch below:
More from USA Today:
The economy added a healthy 250,000 jobs in October, the Labor Department said Friday in the last employment report before midterm elections that President Trump has cast as a critical referendum on his stewardship of the economy.
The unemployment rate was unchanged at a near 50-year low of 3.7 percent. Annual wage growth topped 3 percent for the first time in nine years.
Economists had estimated 200,000 jobs were added last month, according to a Bloomberg survey.
CNBC also reports on wages going up:
More from USA Today:
Average hourly earnings rose 5 cents to $27.30, pushing the annual gain to 3.1 percent, strongest since April 2009, from 2.8 percent in September.
But there’s a caveat. Average pay in October 2017 was particularly weak, likely inflating the yearly increase. More broadly, pay increases are gradually picking up as employers struggle to find workers. That could prompt the Federal Reserve to raise interest rates more rapidly to head off a potential spike in inflation.
That is just tremendous. There has never been a president to preside over a better economy ever – this isn’t me, you understand, this is experts. Experts tell me this, and they’re saying it everywhere, even the people who hate me have to admit it now. Tremendous!!
And it’s just in time for the midterm elections…