More jobs were created [288k] in April than forecasters expected. Unemployment nationally dropped to 6.3%. from 10.2% in 2009. Hiring last month was broad-based and included higher-paying jobs.
Average hourly pay was unchanged. Average wages have risen just above the annual inflation rate. That is not bad as the fed is eyeing inflation.
Since 2005, U.S. production has risen 35% for natural gas and 44% for crude oil. The United States is poised to surpass Saudi Arabia as the world’s top oil producer.
Inflation is controlled so much by the cost of oil. In 2007 the cost was $147 a Barrel. Today is $100. The money is rerouted in the economy rather than paid to foreign countries. A major difference.
The Federal Reserve Bank is holding the interest rate to 0.25%, and the balance sheet to $4 Trillions.
This year will be the best time for new hire, job expansion, the market and the economy. Count on it.
Just a thought