U. S. workers see fastest wage growth in a decade

"RECORD" Hourly earnings increased by 77 cents or 3.1% Increase

As Americans head to the polls for the midterm elections next week, consumer confidence is at the highest level since 2000, largely because people think job opportunities are plentiful, the Conference Board’s Consumer Confidence Survey showed Tuesday.

From August 2017 to August 2018, average hourly earnings for all employees on private nonfarm payrolls increased by 77 cents, or 3.1 percent. Over that period, private nonfarm payroll employment increased by 2.3 million, or 1.9 percent. Employment in professional and business services rose by 519,000 over the year, an increase of 2.5 percent, while construction added 297,000 jobs, or 4.3 percent.For the year ended August 2018, employment in manufacturing was up by 254,000. More than three-fourths of the gain was in the durable goods component. Over that period, average hourly earnings in manufacturing increased 1.8 percent.

From August 2017 to August 2018, average hourly earnings in both utilities and financial activities increased over 4.0 percent.

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