Jobs report carries good news

8th August, 2016 by

By scott miller

What a difference a week makes. The week before last ended with the news that second-quarter growth had limped in at 1.2 percent, less than half of what was expected, and hand-wringing about the American economy ensued. But the government Aug. 5 announced that 255,000 new jobs were created in July, well above expectations for the second month in a row, while year-over-year wage growth hit a seven-year high of 2.6 percent. The news had a three-pronged effect, restoring, for now, faith in the United States economy; increasing the likelihood of the Federal Reserve raising its benchmark rate before year’s …

Source:: Vail Daily Feed



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