I shake my head when sites like Business Insider says things like “The October jobs reports was so good that The Fed will HAVE to raise rates in December!”
Please define “so good?”
This is the first post-recession jobs recovery where YoY earnings growth for 82% of the population has not exceeded 2.7% in ANY month.
In fact, every other post-recession jobs recovery since 1965 has attained 4% earnings growth YoY for at least several months. Average Hourly Earnings of Production and Nonsupervisory Employees accounts for about 82% of the US population.
But it does look like The Fed will raise The Fed Funds Target rate at the December FOMC meeting after the elections.
To paraphrase the Soup Nazi from the sitcom Seinfeld, “No soup for you, you 82%ers!”
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