Metals moved only slightly on 10/9, albeit with an upward trend.
On Friday, the Bureau of Labor Statistics reported that average hourly wages have increased by 2.9 percent over the past 12 months. This is the highest level of annual wage growth in over eight years. However, the increase might be attributed to the fact that over 100,000 low-wage jobs in the restaurant/bar industry were lost last month. The large losses in the hospitality industry may have temporarily boosted the overall average wage, so this report may not be a true reflection of wages. Meanwhile, higher paying construction jobs should be in demand as efforts continue to rebuild after hurricanes Harvey and Irma. The unemployment rate also continued to fall, hitting a 16-year low of 4.2 percent.