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US job growth jumps in October, records largest annual wage gain since 2009

Average hourly earnings rose five cents, or 0.2 per cent, in October after advancing 0.3 per cent in September

Reuters  |  Washington 

US job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labour market tightening that could encourage the Federal Reserve to raise interest rates again in December. The Labor Department's closely watched monthly employment report on Friday also showed the unemployment rate steady at a 49-year low of 3.7 per cent even as more people entered the labour force, in a sign of confidence in the jobs market. Sustained labor market strength could ease fears about the economy's health following weak housing data ...

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First Published: Fri, November 02 2018. 18:49 IST