Average hourly earnings for U.S. workers rose 0.4 percent in October, up from 0.3 percent in September and rising 4.7 percent from 2021. The healthcare, professional and technical services, and manufacturing sectors led those gains, according to a Nov. 4 report from The Wall Street Journal.
U.S. employers added 261,000 jobs in October, and the jobless rate rose to 3.7 percent. Total compensation for civilian workers rose 5 percent in the third quarter over the same period from 2021, indicating that the labor market remains strong, according to the report.
The labor-force participation rate measures the share of adults working or looking for work, decreased to 62.2 percent in October from 62.3 percent in September.