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  • Los Angeles Times

    Wage growth points to rate increase

    by Jim Puzzanghera, Los Angeles Times Sep 08, 2018 3 minutes

    WASHINGTON - Wage growth accelerated last month to its best year-over-year rate since 2009 in a strong jobs report released Friday, increasing the likelihood that Federal Reserve officials will keep hiking a key interest rate to head off higher inflation.

    The Labor Department reported that the U.S. added 201,000 net new jobs in August, up from a downwardly revised 147,000 the previous month. The unemployment rate held steady at 3.9 percent, in large part because the labor force surprisingly shrank by nearly

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