Interesting opinion piece by Dr. Irwin Kellner on NASDAQ.com.
Besides health care and technology, there are more jobs than potential employees in a number of other fields in many parts of the country. They range all over the pay scale and skill set, from blue collar workers to corporate executives.
Does this mean that now's the time to hit your boss up for that raise you so richly deserve?
So do you want the good news or the bad news?
Now that jobs are less difficult to come by, employees are itching to get back some of the buying power they lost to their bosses when the shoe was on the other foot.
Don't get me wrong, overall job growth is still puny. The nation's payrolls in May most likely expanded by around 170,000, if the consensus is right -- well below average.
So, if you're an employee, with a valuable skill, things might be looking up. On the other hand.
The bad news is that wages are the biggest cost for most firms, so if they can pass these costs along, it will boost inflation. This, of course, is sure to trigger more rate hikes by the Federal Reserve.
But there is always the possibility that business will have to eat these increases.
That being the case, corporate profits will suffer, and so will the stock market.
So what's a reasonable person to do?
Live your life. Work hard. Do your job well. Make smart personal and business decisions. Following these types of stories too closely will paralyze you or make you neurotic.
Making the mental heath sector a growth industry can't be a real good thing.
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