The latest available information on U.S. economic indicators shows positive growth across the board.
Overall employment increased by 203,000 positions in October 2013, according to information from the U.S. Bureau of Labor Statistics. The advance exceeded expectations set in a monthly survey of economists conducted by news service Bloomberg. Consumer spending in almost all categories - including household purchases, spending on goods and payment for services - rose, indicating an upswing in the economy.
Wages and salaries showed an increase of 0.1 percent, continuing a three-month positive trend in the category that tracks employee time and hours worked. Although total incomes fell slightly, the decrease was the result of a multi-billion dollar lawsuit settled in September that increased income for farmers across the country and skewed projections.
The amount of available disposable income also continued to rise, albeit slowly. Other beneficial economic news in October included a relatively strong economic outlook from the Federal Reserve, a 25 percent increase in home purchasing and a positive change in the U.S. trade deficit, said The Agence France-Presse in a report.
Economic growth throughout the country means changes on the individual level. To help track new employees and wage increases, effective time and attendance software is a must for proactive business owners.
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