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Broadest Job Gains Since 1998 Mean Faster Wage Growth Is Coming

The rising tide in U.S. jobs is lifting more boats than any time in 16 years.

The Labor Department’s diffusion index, which measures the breadth of industries expanding their payrolls, climbed to 69.7 percent in November, the highest level since January 1998. A level above 50 percent indicates more industries are hiring than firing.