- Average hourly earnings show biggest increase in seven years
Report is likely to encourage Fed as it weighs higher rates
Millions of Americans have gone back to work since the last recession. Now they’re finally getting some decent pay raises.
Average hourly earnings of workers climbed 2.8 percent in October from a year earlier, the fastest pace in seven years, Labor Department figures showed Friday in Washington. Rising wages are encouraging people to look for greener pastures: Among the unemployed, the share of people leaving jobs voluntarily jumped to 12.1 percent, the highest since before the financial crisis began in 2007. Read More…