According to the latest job report, the economy added 161,000 in October, effectively dropping the unemployment rate to 4.9%. Taken together with the fact that jobs added during the previous month were revised up considerably by the Labor Department, this suggests that the economy is keeping a steady pace. Though the drop to 4.9% is only a slight one on a month-to-month basis, we've come a long way since 2009, when the unemployment hit a whopping 10.2%. What's more, October's gains signaled the 73rd consecutive month of job gains for the U.S. economy. The September job gains were revised upward to 191,000 jobs from the initial tally of 156,000. Moreover, wage growth, which has been anemic for the better part of the post-recession years, continued to show signs of improvement. Wages increased 2.8% in October compared to a year ago, the fastest growth since June 2009. Donald Trump, the Republican presidential candidate, isn't buying it. He has repeatedly called ...

U.S. companies didn't do much hiring last month. According to the Labor Department's latest report, only 160,000 jobs were added in April -- considerably fewer than the 197,000 jobs economists had anticipated. As a result, the unemployment rate stayed at 5%. This has many people worried that the U.S. economy has slowed, despite two years of strong hiring. The disappointing report adds fuel to the argument that 2016 has gotten off to a slow start. And we all know that when the U.S. economy is mired in a slump, it has serious implications for the rest of the world. I check the job boards every so often and still don't see as many positions available now -- at least not in my industry -- as in 2007, right before the recession struck.  Still, many Americans have begun looking for work in recent months, hopeful they can find better-paying opportunities. April saw a decent lift in wages -- which grew 2.5% annually -- but that's still below the 3% to 3.5% tha...

If you have the means to buy a new home and are in the market for one, now's the perfect time to do it. Why? The average 30-year fixed rate mortgage dropped this week from 3.72% to 3.65%, its lowest point in 10 months. This makes six consecutive weeks that mortgage rates have dropped. Despite the Federal Reserve's decision to raise interest rates at the end of last year, mortgage rates have continued to slip. Volatility in financial markets fueled by concerns of a global economic slowdown and the falling price of oil have made investors gravitate towards U.S. Treasuries, which has kept rates low for prospective home buyers. Though it was speculated that the rate hike could come in March, Federal Reserve Chair Janet Yellen said market conditions have become less conducive to growth, which could point to a delay in the Fed's plans to raise the federal funds rate. The average rate on a 15-year fixed rate mortgage also fell to 2.95%, down from 3.01% the previous week....

This week, two women at my company rejoiced in the fact that Friday was pay day. The jubilation was short lived, however, because they then realized and related that every cent would have to be used toward their mounting heap of bills. I find it utterly disturbing that people are so deep in the hole as to be unable to put any money into savings. People who find themselves in such dire financial straits tend to be undisciplined when it comes to saving money. To be fair, certain unfavorable life circumstances some people face at a young age -- from parents getting divorced to an unexpected pregnancy to drug abuse -- don't exactly plant the seeds for financial prosperity. But I have no pity for those who are in such a pickle as a result of reckless spending habits. I've beaten this topic to death on my blog, but it's worth repeating: One should always strive to live within -- or, even better, below -- his or her means. If money is tight, stay in and cook rather tha...

December 2007 marked the start of what would become the worst financial crisis since the Great Depression. At the height of said recession, the economy was hemorrhaging jobs at an unprecedented rate. Business were shuttering. Layoffs were touching virtually every industry. The situation was bleak, and it seemed like the sky was going to fall down.  Slowly but surely, we've come out of it, and now the worst appears to be behind us. Consumer confidence has rebounded in a big way, with consumers forking over big bucks on everything from dining and entertainment to cars and homes. When I conduct searches on CareerBuilder and Indeed.com, I see twice -- if not three times -- as many listings for jobs in my field as I saw just a few years ago. Unfortunately, though, real wage growth remains non-existent, and there are still far too many people out of work. Some people fear it might be another 5-10 years before the economy is in full swing again. Although things have improved, who...