Wages jump by the most on records dating back twenty years
By CHRISTOPHER RUGABER
AP Economics Writer
WASHINGTON (AP) — Wages and salaries jumped in the three months ending in September by the most on records that date back twenty years as companies are forced to offer higher pay to fill a near-record number of available jobs. The Labor Department said Friday that pay increased 1.5% in the third quarter. That’s up sharply from 0.9% in the previous quarter. The value of benefits rose 0.9% in the July-September quarter, more than double the preceding three months. The figures demonstrate that workers are gaining greater leverage in the job market and are able to command higher pay, more benefits, and other perks like flexible work hours.