214,000 More Jobs Are Great. But Where Are the Raises?

Photograph by T.J. Kirkpatrick/Blommberg

The U.S. economy added 214,000 jobs in October and the unemployment rate fell to a six-year low of 5.8 percent, but average earnings rose just 3 cents an hour, according to data released today by the Bureau of Labor Statistics. The three-pennies-an-hour raise kept the pay increase over the last 12 months to just 2 percent.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.