This morning, the Bureau of Labor Statistics (BLS) announced the US economy created 257K net new payroll jobs during January 2015. That was pretty much in line with expectations, and is a pretty decent absolute number. After all, when you are creating jobs, you are creating paychecks. When you are creating paychecks, you are creating consumers. When you are creating consumers, you are helping to fuel the consumer dependent US economy.
So, 257,000 new payroll jobs? Couple that with a decent increase in weekly earnings, not great but decent, and that is a pretty fair month’s work, pun intended. But how much longer can this last? Perhaps a better question should be: just how much longer are Americans going to continue to spend more money at restaurants? …Read On…
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.