In the US, wages rose record

Wage growth in the United States accelerated in October 2018 to a nine-year high - 3,1% in annual terms versus 2,8% in September, according to data from the country's Department of Labor.

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The number of jobs in the US economy increased by 250 thousand in October compared with the previous month.

Analysts surveyed by Dow Jones on average predicted a rise of 188 thousand, participants in a Bloomberg survey - by 200 thousand.

Unemployment in the United States in October remained at 3,7%, which coincides with the minimum since December 1969. Experts also did not expect changes in this indicator.

The growth rate of jobs in September was revised from 134 thousand to 118 thousand

The average hourly wage in the United States last month increased by 0,2% compared to September, as expected.

Wage growth for the first time since the end of the recession in the United States exceeded 3%. And the root causes have changed. During the downturn, the average payout rate increased as many companies laid off low-paid workers with less experience. Now, against the background of the lowest unemployment in almost half a century, wages are raised not only to retain the most valuable employees, but also to lure them from other employers. And if earlier this happened only with highly qualified specialists, for example, engineers, now even warehouse workers and housekeepers felt the influence of a positive trend, writes The Wall Street Journal.

However, in the early 2000s or 1960s, when unemployment was close to current levels, annual wage growth was noticeably higher - more than 4%.

In the US manufacturing sector, the number of jobs increased by 32 thousand in October, double the forecast. Retail trade enterprises increased their staff by 2 thousand people. In the construction sector, the figure increased by 30 thousand. In the field of business services, the staff increased by 35 thousand people, in education and healthcare - by 44 thousand.

The number of jobs in the US private sector increased last month by 246 thousand, after rising by 121 thousand in September. The number of civil servants increased by 4 thousand people.

The share of the country's population participation in the labor force in October rose to 62,9% from 62,7% a month earlier, although no changes were expected.

The average workweek increased from 34,4 to 34,5 hours.

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