Paychecks Grow Faster Than Expected in Q3

Need2Know Headlines

Kristen, we're getting a read on the consumer. What has shutter news learned from the latest data released? And that's right. So us worker pay grew more than expected in the third quarter. Signaling continued strength in the jobs market. Well, the employment index rose 1.1% for the three months ended in September. According to the labor department, it was a little faster than the 1% gain in the second quarter. Wage growth rose 1.2% while benefits actually slowed during the same time. So from a year earlier wages and benefits rose 4.3%. That was slower compared to the annual growth of 4.5% and even 5% and the 2nd and 1st quarter of this year respectively.