Brighter news for the economy: accelerated job growth over the path three months could mean more consumer spending, creating a self-perpetuating cycle to boost the economy, an analysis piece in Reuters argues.
734,000 jobs have been created over the past three months, which means about $360 billion in additional income. This additional income could lead to more spending, which would spur more job creating in a self-perpetuating cycle, Reuters says.
"There is some probability that it will feed on itself and that this acceleration we have seen in employment will translate into stronger GDP growth, stronger income growth and a stronger economy over the quarters ahead," Ray Stone, economist and co-founder of Stone & McCarthy Research Associates in Princeton, New Jersey, tells Reuters.
Read the Reuters story here.
