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Update Economic USA Employment
Employment continues to do well in the U.S. with the addition of 178,000 in nonfarm payrolls. This is better than the previous month especially in the area of small business. Increases in the small business category is especially important because this is the category where most new jobs are created. Most jobs in larger enterprises are replacement positions. As we have mentioned in previous reports, we believe it will become increasingly more difficult to increase overall employment numbers as the unemployment rate drops. Inflation in wages may start to appear in greater earnest in the next 6 months.