US Added 250,000 Jobs, Wage Growth Fastest Since 2009

on July 8, 2016 in San Francisco, California.
SAN FRANCISCO, CA - JULY 08: A 'now hiring' sign is posted outside of a Ross Dress for Less store on July 8, 2016 in San Francisco, California. According to the the U.S. Labor Department, employment growth surged wi... SAN FRANCISCO, CA - JULY 08: A 'now hiring' sign is posted outside of a Ross Dress for Less store on July 8, 2016 in San Francisco, California. According to the the U.S. Labor Department, employment growth surged with 287,000 added jobs in June. The unemployment rate inched up to 4.9% from 4.7% with an estimated 400,000 people returning to the workforce, many who had given up on job searches. (Photo by Justin Sullivan/Getty Images) MORE LESS
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WASHINGTON (AP) — U.S. employers added a stellar 250,000 jobs last month and boosted average pay by the most in nearly a decade in an effort to attract and keep workers.

The Labor Department’s monthly jobs report, the last major economic data before the Nov. 6 election, also shows the unemployment rate remained at a five-decade low of 3.7 percent.

The influx of new job-seekers lifted the proportion of Americans with jobs to the highest level since January 2009.

Consumers are the most confident they have been in 18 years and are spending freely and propelling brisk economic growth. The U.S. economy is in its 10th year of expansion, the second-longest such period on record, and October marks the 100th straight month of hiring, a record streak.

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