Wage growth is finally happening

All eyes continue to be on the Fed as they decide whether to raise interest rates by the end of this year, and Chairwoman Janet Yellen has repeatedly hammered home the idea that they will raise rates when they feel confident that the US labour market is back to full health and inflation is coming.

This jobs report suggests we may finally be getting there. Average hourly earnings grew 2.5% between October 2014 and October 2015, the highest growth rate we’ve seen since the Great Recession:

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