Making It in the Bay

New job report numbers show salaries growing, prices still high

NBC Universal, Inc. New federal numbers show America’s job market and salaries are growing. But they’re not the only numbers that are higher, and that has some shoppers checking their receipts. Business and tech reporter Scott Budman reports.

New federal numbers show America's job market and salaries are growing. But they're not the only numbers that are higher, and that has some shoppers checking their receipts.

From restaurants to tech companies, the latest employment numbers -- 272,000 jobs added in May -- are higher than expected.

Add in continued wage growth, and we have all the makings of a strong economy heading into summer.

"And to the extent that the job market has been more resilient and robust than has been expected for many, many months, that is a positive thing,” Mark Hamrick, senior economic analyst at Bankrate, said.

But ask Liz Avilla of San Jose about her wages versus her bills and you'll hear a different story.    

"Oh, I'm definitely spending more now … I always check my receipts to make sure I'm being charged for the right things,” she said.

And with inflation still above 2%, it's unlikely the Federal Reserve will cut interest rates, which they've kept high to try and slow the economy anytime soon and that's the not so good news. 

"The general consensus is that it's so much harder for the younger generations to purchase their first homes,” Terry Vu of San Jose said.

It’s a mixed bag -- the strong economy is keeping job numbers high, but prices high as well. 

To break things down a little further, Bankrate says the unemployment rate for the state of California remains a little bit higher than that of the entire country. But in the Bay Area, the jobless rate is a little lower, still below 4%. 

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