With the Bureau of Labor Statistics’ announcement this morning that the Unemployment Rate stayed at 5.0% following 211,000 new jobs created last month, the likelihood that the Federal Open Market Committee will raise interest rates this month is more or less a sure bet. The Unemployment Rate is the lowest that it’s been in seven years. Job gains were seen across every market sector but two: information and mining. While at first glance, these categories seem like polar opposites, both industries seek to procure something they do not already posses. The fact that the “seeking for more stuff” business is slowing down means that as a whole, we are more content with the substance we already have. Said satisfaction implies a certain level of prosperity, and that collective sense of well being is what the Fed has been waiting for (for the last eight years) before raising interest rates. So say I. Watch for a 0.25% increase from the Fed on the 16th of December.
