U.S. incomes increase as private employers add new jobs
Incomes for U.S. workers increased for the sixth time in seven months, according to an Associated Press report released on Monday.
Experts think the additional income may persuade households to increase their future spending. The expected consumer spending increase coupled with job growth may signal a better economic climate for the U.S.
Private employers added 41,000 jobs in May, according to the report. The increase may lead businesses to increase their capital investments to supply their hires with new equipment. Companies may look to spend on long-term, sustainable items, such as efficient lighting, energy-saving computers and
HDMI projectors.
The AP stated the current economic recovery has been heavily dependent on business spending and exports and not on consumer spending. With both businesses and consumers now looking to invest their money in new items, the recovery may achieve further gains.
Recently, NPD found more small- and medium-sized businesses planned to purchase new PC equipment this year than last year. Income increases, new jobs and investments are all signs pointing to a brighter economic outlook than what the country endured the past two years.
