Wednesday, 21 November, 2018

Wages just hit their highest level in a decade

U.S. Employment Costs Rise More Than Forecast as Pay Jumps Wages Rise 3.1 Percent, Fastest in a Decade
Russell Knight | 03 November, 2018, 18:25

Average wages and salaries of USA workers posted a long-awaited jump in the third quarter, shown in the Labor Department's latest employment cost index released on Wednesday, finally showing the benefits of strong economic growth and an ultra-low unemployment rate through real income.

The Labor Department's closely watched monthly employment report on Friday is also expected to show the unemployment rate steady at a 49-year low of 3.7 percent. That followed a 2.9 percent gain in the year to June.

Prices also have been rising in the past year, especially for gas and rent, but wages are outpacing inflation by a significant margin. They were up 2.6 percent in the 12 months through September after rising 2.9 percent in the year to June. The ECI is widely viewed by policymakers and economists as one of the better measures of labor market slack.

A tightening labor market is steadily pushing up wage growth.

Payroll processor ADP said Wednesday that employers added jobs in manufacturing, retail, and professional services such as engineering. October's hiring was the strongest in eight months.

The increase signals a growing effort by employers to keep their workers in a vigorous economy with unemployment at its lowest since 1969. Rising wages should help support consumer spending and soften the hit to the economy from a softening housing market and stalling business investment.

Hackers selling stolen private Facebook messages for 10 cents per account
Rosen said the social network had notified law enforcement, had the website hosting the Facebook account data had been taken down. However, this new stolen data appears to have been obtained through malicious browser add-ons.

Precise electrical stimulation helps to treat paralysis in three patients
Jocelyne Bloch, a neurosurgeon at Lausanne University, said. "The targeted stimulation must be as precise as a Swiss watch ". The electrodes connected to a small device surgically placed in the abdomen that generates the electrical pulses.

News On WWE Having Hulk Hogan Make Return At Crown Jewel PPV
Paul " Triple H " Levesque suffered what is believed to be a torn pectoral muscle during the WWE Crown Jewel main event on Friday. The event will be live on Sony Ten 1, Sony Ten 1HD (both English) and Ten 3, Ten 3HD (both Hindi).

In the near term, private-sector employers will likely face even heavier pressure to increase compensations and benefits to compete for talent. The Conference Board said its Consumer Confidence Index reached 137.9 this month, up from 135.3 in September.

"The strength in the ADP report supports our view that the underlying trend in the labor market remains upbeat", said Daniel Silver, an economist at JPMorgan in NY.

"The economy is in great shape with lots of jobs and more money in workers' paychecks and this should help bolster the outlook as the financial markets stumble", said Chris Rupkey, chief economist at MUFG in NY. And it all points to more confident consumers. "The only blemish is the struggles small businesses are having filling open job positions". That boosted the annual increase in wages to 3.1 percent, the biggest gain since April 2009, from 2.8 percent in September. That was the strongest year-over-year gain since the second quarter of 2008.

"I suspect that by mid-2019, labour compensation gains will be at levels that would worry the Fed members", said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania. Most of the wage growth in the Employment Cost Index is coming from service-sector jobs.

"The report shows a booming US economy with a sufficient whiff of wage inflation to keep the Fed on track to raise rates in December and at least twice next year", said David Kelly, chief global strategist at JPMorgan Funds in NY. "I do the best I can with what I have".

Recommended

European Union is testing AI-controlled border crossing European Union  is testing AI-controlled border crossing If the computer says no, biometric information will be taken, such as face-matching, fingerprinting and palm vein reading. In its current state, the pilot program is not expected to prevent anyone from crossing the border.

Indonesia protests Saudi execution of domestic worker Indonesia protests Saudi execution of domestic worker Indonesian advocacy group Migrant Care said in September that the mum-of-one had been defending herself from being raped. Indonesia introduced the ban following the execution of two other Indonesian maids by Saudi Arabia the same year.

Merkel looks to Africa to cement a legacy shaped by migration Merkel looks to Africa to cement a legacy shaped by migration She stood as a bulwark against the strutting populists who now run countries as varied as Italy, Hungary and Poland. It underscored the new fragility of German politics and the great uncertainty for a Europe without Ms.

Oprah hits campaign trail in push for America's first black female governor Oprah hits campaign trail in push for America's first black female governor Noting that he heard Winfrey was in the Peach State, Pence said, "I got a message for all of Stacey Abrams' liberal Hollywood friends: this ain't Hollywood ".

German business unfazed by Brazil’s new President Jair Bolsonaro German business unfazed by Brazil’s new President Jair Bolsonaro The press is not the only target of Jair Bolsonaro, the far-right former Army captain. Bolsonaro's election will end a period of instability.

Divers following pings in hunt for Indonesian jet Divers following pings in hunt for Indonesian jet Lion Air is one of Indonesia's youngest and biggest airlines, flying to dozens of domestic and worldwide destinations. Indonesia's Search and Rescue Agency BASARNAS confirmed that they had found the flight recorders.

Giants Hall of Famer Willie McCovey has died at age 80 Giants Hall of Famer Willie McCovey has died at age 80 Willie McCovey , the sweet-swinging Hall of Famer nicknamed "Stretch" for his 6-foot-4 height and those long arms, died Wednesday. McCovey had been in a wheel chair for many years and suffered a major infection four years ago that nearly killed him.

GM offers buyouts to 18,000 employees GM offers buyouts to 18,000 employees About 18,000 of the company's 50,000 salaried employees in North America are eligible for the buyouts, the company spokesman said. According to the spokesman, if there are not enough employees forthcoming to take the buyouts, then layoffs are a possibility.

When Tyrion kissed Khaleesi: Fans react to #Zero trailer When Tyrion kissed Khaleesi: Fans react to #Zero trailer Aamir Khan saw the trailer of the star-studded upcoming film Zero before all of us and feels Shah Rukh Khan has outdone himself. In the video, Bauua Singh ( Shah Rukh Khan ), a 38-year-old, vertically challenged man, is looking for the love of his life.

United Kingdom builders pick up pace in October, but Brexit worries grow - PMI United Kingdom  builders pick up pace in October, but Brexit worries grow - PMI This indicates that foreign demand continued to wane, while the pressure on enterprises dealing with exports rose yet again. Private sector firms in all sectors account for 60 per cent of Chinese economic activity and 80 per cent of employment.

Brazil's new president says he plans to move Israel embassy to Jerusalem Brazil's new president says he plans to move Israel embassy to Jerusalem It was the first time since being elected on Sunday that Mr Bolsonaro referred to his plan to move the embassy. Israel's crackdown in Gaza left over 60 protesters dead in the impoverished coastal enclave on that day alone.

Early voting in Oklahoma starts Thursday for midterms Early voting in Oklahoma starts Thursday for midterms Similar results were coming in from Snohomish County, where turnout was matching where it was at the same point in 2016. The political party numbers are broken down to: 1.29 million Republican voters and 1.23 million Democratic voters.

Overwatch Hero 29 Ashe announced in new Reunion animated short Overwatch Hero 29 Ashe announced in new Reunion animated short In addition to the levitating Snowball and the Genji Sword, Overwatch's heroes and environments have been adapted into LEGO form. So, now we know that you can Nanoboost B.O.B., which makes his description as kind of a "7th hero" for teams even more accurate.

Destiny 2 Now Free On PC Destiny 2 Now Free On PC Either way, you'll need to redeem the code through the official portal on the Destiny 2 page here . During the Destiny 2 gameplay reveal event past year Activision confirmed this.

Woman survives 6 days in mangled vehicle after crash Woman survives 6 days in mangled vehicle  after crash In a statement, Arizona Department of Public safety director Frank Milstead said the efforts of the workers, farmer and trooper were "exemplary".