Long-awaited wage growth south of the border posted its biggest increase of the economic recovery in August while payroll gains beat expectations and the unemployment rate held near a generational low of 3.9%,
Figures released Friday by the U.S. Bureau of Labor Statistics showed average hourly earnings rose 2.9% for the month on an annualized basis, while non-farm payrolls grew by 201,000. Economists had been expecting earnings to rise 2.7%, payrolls to increase by 191,000 and the jobless level to decline one-10th of a point to 3.8%
The wage growth was the highest since April 2009.
The biggest contributor to job gains was professional and business services, which added 53,000. Heath care grew by 33,000, wholesale trade rose by 22,000, and transportation and warehousing contributed 20,000 to the total.
There also were 6,000 new mining jobs in a profession that has added 104,000 positions since October 2016, primarily in support activities.
