Wages and salaries rose at a record-breaking pace under President Trump and the GOP-controlled Congress in 2018; ticking up a staggering 3.1% and seeing the largest gains in over a decade.
“On a yearly basis, wages and salaries jumped 3.1 percent, the biggest increase in 10 years,” writes CNBC. “Wage increases have been the missing link in the economy since the recovery began in mid-2008. Average hourly earnings have been rising steadily but have stayed below the 3 percent level as slack has remained in the labor market.”
The unemployment rate remained at 3.7% in the third quarter of 2018; the lowest level since 1969.
The strong economic data comes less than one week before American voters head to the polls to decide the future direction of the country.
House Minority Leader Nancy Pelosi has repeatedly vowed to repeal the “GOP Tax Scam” should her party retake control of Congress on Election Day.
Read the full report at CNBC.