Despite growing uncertainties in the financial and labor markets, Americans earned and spent more in August, the Commerce Department reported Friday.
Consumer spending rose by 0.6 percent, the sharpest month-to-month gain since April, while income rose 0.3 percent, inching down from 0.5 percent in July.
Continuing a downward trend in recent months, the so-called core personal consumption expenditure deflator -- a key gauge of inflation -- rose just 0.1 percent, the smallest increase in over three years.
Amid an upsurge in jobless claims, private wage and salary disbursement grew at a slower pace in August, increasing by $12.8 billion compared to $22.2 billion in July.
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