The U.S. economy added more jobs than expected last month, and workers’ wage growth accelerated, a Labor Department report showed Friday, Nov. 2.
Total nonfarm payroll employment increased by 250,000 jobs, higher than the 190,000 predicted by analysts in a FactSet survey. The unemployment rate held at 3.7%, the lowest since the first year of Richard Nixon’s presidency in 1969.
Average hourly earnings rose by 3.1% from a year earlier, according to the report.