According to researchers at Pacific Capital Trading, a sharp advance on Wall Street, after recently observing the government's employment report for September, coupled with its revision of Augusts’ data, has had an effect of cooling the market's fears of a recession and therefore indicating a bright future.
Pacific Capital Trading are said to be looking into The Labor Department's report that employers added 110,000 jobs in September (essentially what analysts had expected) and this in turn has reassured Wall Street that the job market wasn't pulling back sharply as analysts recently feared.
Pacific Capital Trading`s advisors were reportedly relieved that the economy does not appear to be headed for a precipitous slowdown, which will prove to be positive news for Pacific Capital Trading’s investors.
Strength this year in the job market amid a housing downturn and tighter credit conditions has been an critical cornerstone for the economy. With consumer spending accounting for about two-thirds of economic activity, investors are eager for workers to continue to collect their paychecks.
Pacific Capital Trading is not seeing a weakening of the labor market and no indication that the market is faltering. Both Pacific Capital Trading and many on Wall Street were relieved to see the economy forging ahead.
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