Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 7 December 2015

Fed set for lift off

Jobs firm

The US Federal Reserve is set to lift interest rates for the first time since June 2006.

The Bureau of Labor Statistics reported that the economy added 211,000 jobs in November, while the October result was revised up from +271,000 to a smashing +298,000, and September also saw a positive revision from +137,000 to +145,000 (for a total of +35,000 revisions).

After 68 consecutive months of employment gains, the Fed is finally ready to hike interest rates following its December 15-16 meeting. 

Average hourly earnings have increased by 2.3 per cent over the year, with the economy having gained some 13 million jobs since its nadir.

Average monthly employment gains this year have been solid at 210,000, although a bit lower than the 260,000 seen in 2014.

The unemployment rate was unchanged at a 7.5 year low of 5 per cent.

Fed to hike. It's been a while coming!