It's a healthy report. We're seeing healthy job growth and the labor market is continuing to tighten.

Even though the labor market is tight, the pickup we've seen in wages growth has been fairly modest so far. There's a noticeable pickup there, but it's not huge at this stage.

The trend is still for healthy productivity growth between 2% and 2.5%, and unit labor costs are expected to only slowly rise over the coming year.

The market's keen to see U.S. labor costs and economic growth figures for signs of a possible interest rate hike,

It's a great picture, it reduces unit labor cost growth, which improves the inflation outlook. Awesome.

There's not enough skilled labor in this town to build even half of what has been proposed.