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First Post-Recession Jobs Recovery Without 1 Month Of Earnings Increases > 2.7% Since 1965

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

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. 

1965lbj

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!”

nosoup

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1 Comment

  1. ChrisWagner

    David Stockman cited the Treasury’s YoY PAYE tax receipts being  f l a t. Henceforth, even if they created “161,000 new jobs”, the real world earnings remained unchanged. Meaning, more employees have been sharing the same take home pay. That’s less for each one, statistically.

    The BLS’ beyond contempt. Ask someone who relies on Obamacare and has kids in both kindergarten and out of state universities. Inflation? What inflation!

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