Highlight point from this morning's insight publication:
The US job market added 2.64 million jobs in 2018. That is 3rd highest total for job creation since the 2008 financial crisis. since 2008 and 2000. Wages grew 3.2% year-over-year, the highest annual wage growth to end off the year since 2008. December unemployment finished as the lowest year-end reading since 2000.
So, job creation and wage growth are not the only metrics that drive the economy, profits, and consequently, the stock market however they are big drivers nonetheless. The more people are working, the more inclined they will be to spend, feel confident, and begin, or continue to search for work. The knock on effect of this can not be denied as a positive. Have a look at the charts below though....we need to be cognizant of how much job creation is left
None of the recession indicators that we are monitoring are currently flashing red, but this is one more example of how far things have come since the 2008 financial crisis