Philadelphia, Pennsylvania – (StockNewsDesk) – 10/06/2014 — Non-farm payrolls for September came in above expectations with 248,000 hires, pushing the unemployment rate to a post crisis low. The unemployment rate fell from 6.1% to 5.9%, nearing the Fed’s original target for open-ended QE.
This jobs report was encouraging in almost all facets. One indication of concern was the lack of growth in wages, which continues to imply that inflation is not a concern yet, and that firms continue to be uneasy about the prospects of recovery. When companies are confident about their economic outlooks, they are willing to pay more to hold workers and attract new staff in response to and anticipation of increased sales.
Another data point in the labor report that bears are jumping on is the continued drop in the labor participation rate to a record low of 62.7%.
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