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When unemployment is low, wages typically shoot up. But wages are growing more slowly than they did 20 years ago.
Recession worries were prominent several months ago, but the latest jobs report suggests those risks are fading.
The government’s benchmark revisions showed 500,000 fewer jobs were created in 2018 and early 2019 than initially thought.
The Labor Department’s October jobs report is expected to show a sharp slowing in job creation in a still-tight labor market.
Don’t expect much from the Labor Department’s monthly numbers, analysts say.
Average hourly earnings were unchanged in September, and the annual growth rate fell 0.3% from the previous month.
The U.S.-China trade war has slowed hiring, and average hourly wages have slipped.
The report tracks how many jobs are created and what the unemployment rate is, among other things.
According to the Labor Department, the employment-to-population ratio for 25- to 54-year-olds hasn’t been this high since 2008.
The temporary hiring of 25,000 census workers is part of the jobs number. Without that hiring, the U.S. added 96,000 jobs in August.