Nov 09/15 – Two camps, and I don’t belong to either of them

It’s tough to argue Friday’s employment number was anything less than stellar. Change in private sector payrolls was 271k versus 185k expected. The unemployment rate stuck at 5.0%. But most importantly, average earnings rose to 2.5% versus a forecasted 2.3%.

The Federal Reserve has been itching for a reason to raise rates off the zero bound for the last …