The recent data released by the U.S. Commerce Department brings a good if not an extraordinary set of news. Consistent hiring has been a key factor for the economy recovering this year. The U.S. employers added no less than 271,000 jobs in October, the highest number since last December, whereas the unemployment rate reached the lowest level since 2008, at 5 percent. And the number of people seeking jobless benefits almost hit a 40-year low last week.
Not only did the workers find more jobs, but they also earned more money. Salaries jumped 0.6 percent last month and are 4.9 percent higher than they were in October 2014, marking the biggest annual raise after the Great Recession. This could be a consequence of the fact that factories across the country received more orders, both domestic and from overseas.
Americans are starting to feel secure about their jobs and their incomes and as a result they are more likely to engage in buying homes and cars. House sales have increased 15.7 percent this year and are about to reach the 2007 levels, before the recession.
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