The U.S. unemployment rate sank to a 48-year low of 3.7% in September as the economy added 134,000 new jobs. Builders hired 23,000 workers and manufacturers 18,000.
The amount of money the average worker earns per hour, meanwhile, rose 0.3% to $27.24.
The increase in pay over the past 12 months slowed to 2.8% from 2.9%, but it’s widely expected to top 3% soon because of the growing competition for a shrinking pool of available workers.
Read the full story at marketwatch.com.