Sunday, November 7, 2010
Just in time for holidays: Bigger paychecks
It's about time for some good news. Both wages and the number of people employed have increased. 151,000 jobs were created as noted in the October jobs report. As for wages, weekly wages have increased 3.5% from a year ago. This is not due to raises, but to an increase in the hours worked per individual. This increase in income should hopefully lead to greater consumption and likely economic growth. This is the start of optimism and this period may be looked at as the turning point of this mess.
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Expectation is half the battle when it comes to economic recovery. I hope this new optimism continues past the next few monthes.
ReplyDeleteThis is a good sign. It does not matter that wages are increasing but that hours worked is. No matter what the reason for, as long as people are making money this is going to help the economy get back on their feet.
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