Y/Y Average Earnings Growth Surpasses 3% for 7th Straight Month

According to the U.S. Department of Labor, wage gains hit their highest mark since April 2009, at 3.4% year over year, while the year over year average hourly earnings growth surpassed 3% for seventh consecutive month.

U.S. Secretary of Labor Alexander Acosta today issued the following statement regarding the February 2019 Employment Situation report:

“The unemployment rate declined to 3.8% resulting in a year-long streak at or below 4.0%. The unemployment drop included a new record low for Hispanic-Americans,” said Secretary of Labor Alexander Acosta. “The labor force participation rate held at 63.2% in February, matching the January report and the highest rate since August 2013.

“America’s workforce continues to grow, with 20,000 new jobs created in February and upward revisions of 12,000 jobs from prior months. The last three months saw an average job gain of 186,000 jobs. This month’s jobs report highlights the importance of focusing on workforce investment that builds the skills needed to fill the record amount of open jobs.”

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