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US job creation was supposed to slow, but a funny thing happened: Hiring has sped up
In a year characterized by big ups and downs in the stock market, one thing Wall Street has been able to rely on is a steady increase in the number of new jobs. Economic tea readers predict the same in November. The U.S. likely added 190,000 new jobs last month to keep the unemployment rate at a 49-year low of 3.7%, forecasters say. Here’s what to watch in the latest employment report due Friday morning. An extremely “tight” labor market — what economists call it when firms can’t find enough people to hire — is driving up wages. The yearly increase in hourly pay broke through the 3% barrier in October ... (full story)