LOTS OF JOBS IN THE USA!

Today we learned that another 225,000 jobs were added last month in the USA. It seems the doom and gloom advertised earlier this year is fading!

This data means two things are likely to happen – which will affect everyone.
Wages will be starting to creep up as the labor market is getting tighter (yay for working people!). The unemployment rate is less than 5%. It also means we are likely to see higher interest rates this year. But they are so very low it shouldn’t hurt borrowers or the economy much. And it can help savers a tiny bit. (Base rate is now a whopping 0.5%). Let’s hope this good news continues!