The good news: The US economy added 156,000 jobs in September and wages rose by $0.06 per hour.
The not so good news: The expectation was that there would be 170,000 added.
Wage growth happening at the same time as job growth is a sign of a recovering economy; but having it happen at levels below expectations while job participation hasn’t changed much suggests that interest rates will remain unchanged. Depressed interest rates make it more difficult for the US Federal Reserve to manage the economy, but raising them too soon may stall the prolonged recovery. The situation is positive and tenuous, and that’s been the case for months with more months to follow.
(Click on the graph for the link.)
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