The United States wage growth slowed during the past month, although the US unemployment rate fell to the lowest level in 50 years.
Wage growth slowed in the United States during November
The report of the US Bureau of Labor Statistics released on Friday revealed that:
- The average hourly wage of an American worker in the United States was 28.29 dollars in November.
- An increase of 7 cents, or 0.2 %, from the previous month.
The average hourly wages of American workers
Analysts estimated that:
The average hourly wages of workers would increase by 0.3 % in the comparable month.
On an annual basis
- The average hourly wages of American workers grew by 3.1 % in the past month.
- Compared to the same period last year and against an increase of 3.2 % in the previous month.
As for the average number of hours worked per week in the United States, it remained unchanged during the past month at 34.4 hours.
The unemployment rate index
The US data released on Friday showed that the unemployment rate index recorded 3.5% in November against expectations that stood at 3.6%.
As for the unemployment rate in the United States, it returned again to its lowest level since late 1969. Recording 3.5 % last month, which is about 0.1 % lower than the previous month.
U.S. Hiring Strengthened in November, Fueling Expansion
According to the monthly jobs report:
The US economy added 266,000 jobs to the labour market in November, with the fact that the figures for the previous two months were revised up 41,000 jobs overall.
By 1:51 pm GMT:
The greenback was up 0.2% against its European counterpart, pushing the euro down to $1.1083.