Three Simple Messages from Jobs Data

Three Simple Messages from Jobs Data

The U.S. jobs report for October released by the Labor Department on Friday contained three simple messages.

 

For the economy: The combination of continued solid employment growth (161,000 new jobs in October and upward revisions of 44,000 for the previous two monthly estimates) and a faster increase in wage growth (now 2.8 percent, annualized) is good news for an economy powered by consumption.

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