Some wags are waiting for the economy to slow down, as if recession is inevitably around the corner. Maybe so, maybe not. So much of economic growth, especially hiring and business investment, is a reflection of positive expectations and momentum. Employers who expect the good times to continue will hire workers. The more jobs available, the greater the competition for skilled workers, which inevitably leads to wage increases and more spending. That virtuous cycle is playing out right now: Average hourly earnings are up 3.2 percent over the past year, the highest increase since 2008.