Average hourly earnings in the U.S. rose 3.1% over the year through October, while consumer prices increased 0.4% during the month, figures that may inform the Federal Reserve’s assessment of inflation.
The U.S. Bureau of Labor Statistics (BLS) said average hourly earnings gained 0.4% from September, an increase of 14 cents to $38 for private-sector workers. The Consumer Price Index also rose 0.4% in October. The two reported monthly gains were both 0.4%.
Nonfarm payrolls increased by 165,000, and unemployment was 4.1%, the BLS said. EconoTimes previously covered the October jobs report.
Further government labor and inflation data, along with Fed communications, could help show whether price pressures are changing.
