Wow! Wage Growth Sizzles As Unemployment Hits 49-Year Low
JED GRAHAM
10/05/2018
Don't be fooled by the mixed headline data in the September jobs report. Average hourly wage growth over the past six months revved up to 3.3% on an annualized basis, easily the fastest pace since January 2009, Labor Department data show. The Fed is finally being proven right as low unemployment — the 3.7% rate was the lowest since 1969 — feeds through to faster wage gains. More Fed rate hikes are likely to follow.
The Dow Jones industrial average, S&P 500 index and Nasdaq composite all moved steadily lower on the stock market today as investors digested the report. Meanwhile, the 10-year Treasury yield, which has surged to a seven-year high this week, moved up to 3.22%.
https://www.investors.com/news/economy/jobless-rate-hits-49-year-low-3-7-job-growth-slows/
