America’s labor market continues to show signs of gradual strengthening, with newly released government data showing the economy added 161,000 jobs last month. Annual wage growth surged to levels not seen since before the financial crisis, while the unemployment rate dipped to 4.9 percent in October from 5 percent the previous month. The labor-force participation rate was 62.8 percent in October, roughly flat from 62.9 percent the previous month. Average hourly earnings of private-sector workers rose 2.8 percent in October from a year earlier, the fastest growth since 2008. [Federal Reserve hints at December interest rate increase]The biggest job expansion came in professional and business services, followed by health care and financial activities.

Source: Washington Post November 04, 2016 12:33 UTC