This is a guest post from Robert Riedl, Head of Capital Markets at Dealstruck.
According to government data recently released, the U.S. economy added 271,000 jobs in October, reversing a month’s long trend of disappointing growth in employment rolls. Due to the strong hiring, which surpassed analysts’ expectations of 185,000 added jobs, the unemployment rate dropped to 5%, and wages grew at the fastest pace since 2009, rising by 0.4 percent.
According to analysts, this combination of strong hiring, rising wages, and a lower unemployment rate make it likely that the Federal Reserve will introduce the first interest rate hike in nearly a decade.
What does all of this mean to the small business owners in the U.S.?
“Research we conducted in August indicates a correlation between strong hiring and a need for access to capital for small business owners,” said Robert Riedl, Head of Capital Markets at Dealstruck. “In other words, when the economy is adding jobs at a strong pace business owners ga…