Wages whiff

The American economy saw no wage growth in June.

In June, average hourly earnings were flat at $US24.95. The estimate was for 0.2% growth month-over-month. Year-over-year earnings rose 2.0%, below the 2.3% estimate.

In May, average hourly earnings posted a 0.3% rise month-over-month, and 2.3% year-over-year.

The jobs report showed that the economy added 223,000 jobs in June, and the unemployment rate declined to 5.3%.

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