FIRST AIRED: November 4, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

Business

American workers get a big pay boost

Opening sequence

Opening sequence

Business

American workers get a big pay boost

0:00
17:45
More Info

COMING UP:American workers get a big pay boost

×

Transcript

00:00:02
>> It's the final jobs report before the presidential election, and there's good news for workers. Americans are seeing the biggest raise in their paychecks in seven years. I'm Conway Gittens in New York. The US Labor Department announcing on Friday that average hourly earnings jumped $0.10 in the month of October.
00:00:20
Doesn't sound like a lot, but it is. The 12-month gain in terms of wages is now the biggest since June of 2009. Workers have been waiting for a long time for a significant boost to their paychecks, and according to the data, they are finally seeing that. Now in terms of hiring, employers added 161,000 new jobs in the month of October.
00:00:44
That was slightly below expectations. All of the hiring came from the services sector, primarily health care, education, and financial activities. Even the government was on the hunt for new workers, hiring in the month of October swinging to a gain in 2016 compared to a loss in 2015. The unemployment rate dropping to 4.9%.
00:01:08
Experts say the report certainly keeps a federal reserve rate hike in December on the table, but first we have to get through the elections. And experts say the jitters that we're seeing in the stock market that has caused the stock market to have its longest losing streak since the financial crisis.
00:01:25
This jobs report, not strong enough to stop those jitters.