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Average Hourly Earnings of Production and Nonsupervisory Employees Lower Than Under LBJ

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

We’ve come a long way, baby. Or not.

According to the US Bureau of Labor Statistics, the Average Hourly Earnings of Production and Nonsupervisory Employees grew at 2.4% YoY in October. Sounds impressive, no?

No.

Average Hourly Earnings of Production and Nonsupervisory Employees YoY is lower than even in 1965 under Lyndon B. Johnson (LBJ). That is when LBJ and Congress launched “The Great Society” programs.

But notice that the “miraculous” jobs recovery since The Great Recession has been THE WORST WAGE RECOVERY BY FAR SINCE 1965. All other recoveries have exceeded 4% growth, at least for a short while.

1965lbj

And Average Hourly Earnings of ALL EMPLOYEES YoY is finally above the LOWEST LEVEL DURING THE GREAT RECESSION!! Well done, Washington DC!!!

lowestpointofreces

But even one of the strongest sectors of the Obama/Fed jobs recovery is showing a slowdown YoY: Food Services and Drinking Places.

foodbartenders

“All the way with LBJ” to lower wage growth.

all-the-way-lbj

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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