There are two important pieces of economic news out this morning, and while it might not seem so, they're intimately connected.
First, we got another in a stream of solid reports on the U.S. job market. Payrolls were up 227,000, and while the jobless rate ticked up to 4.8 percent, that was for a good reason: more people entering the labor market. Hourly pay is up 2.5 percent over the past year, ahead of inflation, meaning real paychecks have more buying power. There's still some slack in t
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