Wages grew 3% over the past year, the slowest since 2021. Core inflation is also 3%. The raise bought nothing new.
Behind September's weak jobs number, wage growth slowed to 3% over the year, the lowest since May 2021, about the same as core inflation at 3%, so the average raise is being eaten by prices.
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Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%
CNBC · Oct 2, 2026












