The total number of people employed increased by 209,000 in July and the unemployment rate remained relatively unchanged at 4.3%, according to data released by the US Bureau of Labor Statistics on Friday.
Hourly average earnings rose nine cents in July to $26.36, meaning the total wage rise for the year to date has been 65 cents.
While Treasury yields on the 10-year note rose to 2.26% on Friday the figures did little else to excite investors, but offered a stable picture for the coming months and potential future rate hikes.
Luke Bartholomew, an investment strategist at Aberdeen Asset Management, said: “This should keep the chances of a December rate rise alive. The next rate rise really boils down to whether inflation picks up and this requires stronger wage growth.
“While far from spectacular, especially given the further fall in unemployment, today’s wage numbers are just about enough for now.
“But there have been so many false dawns about US inflation over the last few years that no one should get too excited about today.”
