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Mubasher: Wage growth in the United States accelerated last month as the unemployment rate stabilized at its lowest level in almost 50 years.
In the United States, average hourly wages increased 3.2% in the 12 months to July, up from 3.1% a year earlier, according to data released Friday by the Bureau of Labor. Statistics.
On a monthly basis, the average hourly wage of the American worker increased by 8 cents or 0.3% to $ 27.98, the same rate as the previous month.
Analysts had forecast that the average hourly wage of workers in the world's largest economy would rise by 0.2% last month.
For the weekly average hours worked in the United States, it decreased by 0.1 hours to settle at 34.3 hours in July.
According to the employment report, the US economy added 164,000 jobs to the labor market in July, as the unemployment rate stabilized near the 50-year low.
At 12:39 GMT, the greenback was down 0.1% from its European counterpart and the euro rose to 1.1096 USD.
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