Don't Fear the Overall Lack of Wage Growth, Job Scene's Improving

The Labor Department reported a better-than-expected jobs number in November and hourly earnings that doubled economists’ expectations. But amid conflicting data points, concerns have been triggered about the jobs rebound ahead. Red flags include the ADP National Employment report's findings that hiring in the private sector slowed last month and the ISM Employment Index slipping in November. The Federal Reserve's Beige Book business survey also found that overall price and wage increases were 'subdued.' But Brad Sorensen, director of market and sector research at Schwab, says the overall lack of wage growth is not concerning at this point. He believes the labor market is improving, and the American economy and stock market should benefit from that into 2015.