…“U.S. unemployment fell to a six-year low of 5.8% in October as companies continued to take on staff in impressive numbers. The data add to signs that the economy is enjoying another period of strong growth in the fourth quarter. However, lackluster wage growth takes some of the shine off the improvement in the employment situation, and also acts as a bar to raising interest rates," said Chris Williamson, analyst at research firm Markit.
Employment rose last month in food services and drinking establishments, retail trade, and health care, according to the Labor Department figures.
Some analysts believe the recent strong job gains and falling unemployment rate will lead to higher wages.
“Hourly wages for production and non-supervisory workers were unchanged in September, but, given a falling unemployment rate, could well begin to rise more quickly in the months ahead,” David Kelly, chief global strategist at J.P. Morgan funds, said ahead of the release of Friday’s jobs report.
Wage growth will be a key indicator to watch over the next few months as the Fed determines when and how to raise interest rates and otherwise wind down the massive stimulus policies initiated in the wake of the financial crisis……
http://foxbusiness.com/economy-policy/2014/11/07/us-economy-adds-214k-jobs-unemployment-rate-falls/
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