Sunday, November 7, 2010
Just in time for holidays: Bigger paychecks
Nov 5: Longer hours and a pick-up in hiring is pumping more income into economy at just the right time. There was a gain of 151,000 jobs in the October report, which was the best hiring by businesses in six months. A bigger economic impact, than the addition of jobs may come from the extra wages spread across the 90% of workers who already had jobs. "Average weekly wages improved by the biggest percentage in October than at any time since the start of the Great Recession -- up 3.5% compared to a year ago." Do you think the actions explained in the article are a result of Christmas coming up or do you think the effects will be permanent and last past the Holidays?
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2 comments:
Of course higher wages are important. The more money people get the more they will spend. As the christmas shopping season coming up. Although hourly wages were not up as much employers are not in any hurry to raise wages because of the high number of people looking for work. The extra hours and more money will not last past the holiday season as christmas shopping season will not last past January
Partially, this can be the affect from the winter shopping spree. However, it might also be the signal that the economy is starting to settle for a better future.
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