50 straight months of job growth, a new all time record. Tightening in the labor market is finally leading to some upward pressure on wages (f u Alan Greenspan). The best thing about the growth, is that its finally being reflected in higher wage occupations. The growth in the rest of the world is slowing to the point that they can no longer weaken the USD relative to other currencies post QE, especially when others are now engaging in QE. While Saudi said they were going to cut prices yesterday morning, then retracted the statement, they finally confirmed they were going to do it, driving Brent crude to a $68 handle. While many worry about the shrinkage in the rest of the world coming back to the US, they are not taking into account how poor half of our country is, which equals plenty of pent up consumer demand right here at home. In my opinion, the US labor market is set to have the best year since before China joined the world trade organization in 2000, and they took the full brunt of globalization up the wazoo without lube. And, if the US cant use these low interest rates and glut of money running in from abroad to rebuild and upgrade our infrastructure now, we never will. bloomberg/video/u-s-jobs-this-is-one-of-those-wow-reports-krueger-SooGZK2WQPGuZ7NOr7urtw.html
Posted on: Fri, 05 Dec 2014 16:21:43 +0000
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