The gap between hourly compensation and productivity is at a post-war high.
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Stronger job growth has brought “good news” recently, but overall, it remains “out of sync” with the modest growth of the U.S. economy, Federal Reserve Chairman Ben Bernanke said Monday.
Hiring was stronger than expected in September, a rare piece of good news amid growing worries of a weakening U.S. economy. Employers added 103,000 jobs in the month, the Labor Department reported Friday. And July and August were both revised higher, showing an additional gain of 99,000 jobs over the summer. For the last several months, there have been widespread concerns about the economy falling back into recession. And Friday’s report was welcome news amid fear of a double-dip recession. Economists surveyed by CNNMoney had predicted a gain of just 65,000 jobs in the month.
