Not sure what you have posted, could it be this? If it is, we agree. Unemployment down, wages are better than unemployment, consumer needs income to consume. The Fed will NOT crash this trend. Call it a slow 'recovery'.
However, from all the signs out there, the majority of this jobs are low paid ones. Wages haven't changed much for a decade ( as your chart shows). But...that trend is very long in tooth. All evidence is pointing to: more jobs, more income, better consumer credit score, more credit (auto loans, etc,) ....in general - more spending. The high USD, low to steady prices doesn't reduce the purchasing power of US consumer. Watch the tax return data, it will be released in two weeks time.
Expect a pick-up in loan repayments and increased spending.
Am I overly bullish on US stocks? No, they will pay workers a bit more and survive with a bit less profit!
Yes - it is known as the wealth effect - from the asset bust & boom back to wages recovery.
Expect volatile markets and active central banks.
