Wages and salaries jump by 3.1%, highest level in a decade

American wages are up and moving in the right direction.

Wages and salaries rose 3.1% in the third quarter — the highest increase in a decade.

“With labor market conditions still tightening, we expect wage growth will accelerate further from here,” said Michael Pearce, senior U.S. economist at Capital Economics.

This is reminiscent of 1984 when Regan ‘trickle down economics’ finally started to kick in just before the Christmas Season when booming retail shoppers felt confident.

To read more from CNBC, click here.

Print Friendly, PDF & Email