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More Evidence That the Job Market Is Tightening and Wages Are Headed Higher

The U.S. labor market is tightening.
relates to More Evidence That the Job Market Is Tightening and Wages Are Headed Higher
Photographer: Victor J. Blue/Bloomberg

The median U.S. worker enjoyed a pay increase of 3.5 percent year-over-year as of May, according to the Federal Reserve Bank of Atlanta's wage growth tracker.

Wage growth has been accelerating since October, quickening to a pace not seen since January 2009: