The Labor Department reported Friday that the 110,000 new jobs were created in September, while numbers for July and August were revised upward by 118,000.
This will be good news for the upcoming Holiday season, as a solid jobs market should relax the fears of consumers who had been concerned over the housing market problems. The healthy jobs market should keep them in a spending mood going forward.
Other related good news is non-management workers have had hourly income increase by 0.4 percent in September, and have they increased by a strong 4.1 percent over the last year.
This of course means there will be more money in the pocket of consumers to spend, unrelated to housing concerns or credit problems.
As of the end of August, real wages increased by 2.2 percent, taking inflation into account. Those gains are stronger than gains made during the 1990s recovery.
I wonder how this information will effect the Federal Reserve when it meets later this month? It may be enough to keep them from making any changes.
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