Signs of Improving U.S. Job Market

Nov. 19 (Bloomberg) -- More than five years into the economic expansion, the signs that economists look for to herald the pickup in pay that has long eluded American workers are starting to emerge.

Wages and salaries climbed last quarter by the most since 2008 as a dwindling number of unemployed per job opening approached a tipping point. Amid rising profits and sales per employee, some companies have a cushion to boost compensation.

Evidence of a rebound in employee earnings is appearing in certain industries and regions, including Texas and North Dakota, that are riding the energy boom and the strengthening homebuilding market in the U.S. Southeast. While plenty of slack remains in the economy, raises are likely to filter to other areas as job creation whittles away at U.S. unemployment.