After expressing a willingness to raise the federal interest rate in December, news of job creation throughout October may be the final catalyst the Federal Reserve needs to hike rates for the first time since 2008.
But the 271,000 jobs created in the world’s largest economy during October is not the sole reason for the prospect of raising the interest rate.
Instead those figures have brought the unemployment rate from 5.1 percent to 5 percent, which the Fed classifies as full employment.
In short, the American work force is finally on even ground after suffering fallout from the latest recession.
That was a key catalyst for the Fed as they have stated the employment rate along with developments in the global economy would drive their decision.
The nation has also experienced a 2.5 percent increase in wages during 2015, the strongest annual increase since 2009.
This video was produced by Wochit using http://wochit.com