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Wages and salaries see highest growth since 2008

Wages and salaries grew 3.1% year-over-year in the third quarter — the largest increase in a decade — while inflation rose just 2.5%, reports CNBC.

The big picture: Despite booming GDP growth and record-low unemployment, wages are the one metric in the economic recovery that has largely remained stagnant. Friday's jobs report will offer another measure of wage growth that could signal this is just the beginning of "better wage dynamics," as economist Joseph Song suggested to Axios last month.

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