By Thomson Reuters – Re-Blogged From Newsmax
U.S. wages and salaries rose by the most in a decade while private sector payrolls increased by the most in eight months in October, suggesting overall job growth accelerated this month after Hurricane Florence weighed on restaurant and retail employment in September.
The Labor Department’s Employment Cost Index showed wages and salaries, which account for 70 percent of employment costs, jumped 0.9 percent in the third quarter after climbing 0.5 percent in the prior period.