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US average hourly earnings, October m/m +0.4% vs +0.3% expected; September revised from +0.1% to +0.3%.
Business & markets1 min read
US average hourly earnings increased by 0.4% in October, surpassing expectations of a 0.3% rise. The previous month's earnings were revised higher from 0.1% to 0.3%.
What was reported
October's earnings growth was 0.4%, above the expected 0.3%.
September's earnings revision shifted from 0.1% to 0.3%.
Why it matters
Average hourly earnings are a critical indicator of wage growth and economic health. An increase in earnings can suggest rising consumer spending power, which can influence overall economic activity.
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Source & attribution
This article is presented by DailyMIQ. General educational context is DailyMIQ commentary.
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