Missed in all the noise about trade-wars and congressional investigations over the last few days is that the market got an employment report on Friday. The jobs numbers came in light which may say more about today’s low unemployment rate (or statistical noise) than it does about the health of the job market.
One of the bright spots in the report was the growth in weekly earnings. Earnings growth is rising at its fastest pace in seven years. The hourly wage numbers aren’t yet as impressive as the Labor Department’s estimate of hours worked is up, but Americans’ paychecks are getting larger.
Should be good news for the economy.
Jeremy Jones, CFA
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