"The numbers: Workers are reaping the benefits of the lowest unemployment rate since the late 1960s: Wages, salaries and benefits are rising at the fastest rate in a decade."
"Private-sector wages and salaries grew even faster. They rose 3.1% in the 12-month period ending in September, topping 3% for the first time since 2008.
What happened: Paychecks and benefits reversed roles in the third quarter. Wages and salaries grew much faster in the fall than in the spring, but benefits grew more slowly."
What happens when you have a lot more people working and making more money?
As we all (should) know - this comes from market psychology. Confidence is the key to driving markets and the economy. We had an abrupt change in confidence in the US economy just two years ago.
What can go wrong? A lot of things, but flipping the House in the next week could be significant. There is one party that would love for this economy to fail. And, actually, there are many in the party in power who had it good and would like the economy to fail too, IMHO.
And, we have SO MANY problems that can only be addressed with a growing economy.
At the risk of going ntr, Reagan said "The best social program is a job".
not around here, ...
wages are not growing.
We are currently working on pay increases for our team at my company. The pay increase allowed in the highest in maybe 10 years. Of course our insurance is going up to and it's probably going to wipe out the pay increase.