Sunday, November 8, 2015

Best U.S. wage growth since 2009

http://money.cnn.com/2015/11/06/news/economy/best-wage-growth-in-years/index.html?iid=SF_LN

The United States economy added 271,000 jobs in October which helped lower the unemployment rate to 5%, its lowest level since 2008. This can largely be attributed to the fact that more part-time workers found full-time work. As we move on from the Great Recession, employers are starting to gain more confidence in the economy as a whole and its current direction which gives them greater confidence in adding more full-time workers.
Wages also grew 2.5% in October from a year ago, which is the best increase since July 2009. This is important as higher wages are the key to driving consumer spending, which is the largest portion of U.S. economic growth. The only negative aspect about the economy at this point is the fact that the global economy is not as healthy as the United States' economy. The current global slowdown is significantly hurting our trade and manufacturing.

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