Companies have finally begun taking on staff in consistently greater numbers, half a decade after the end of a deep recession brought on by one of the most punishing financial crises in history.
What companies haven’t been doing yet is offering consistently greater pay.
That means an urge to start bringing forward expectations for when the U.S. Federal Reserve will begin raising interest rates might be premature.
Right now, the consensus view is that the federal funds rate will go up in about a year. Some banks who thought it might be late next year are saying it might come a bit earlier.