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It’s The Big One! What To Make Of Friday’s All-Important Number
Listen, if you've lost the plot line don't worry because everyone else has too.
Just a month ago, everyone was thoroughly convinced that the disappointing average hourly earnings number that accompanied the January jobs print was all the "evidence" the "data dependent" Fed would need to take a March hike off the table.
Fast forward four weeks and the story has completely changed. There was Yellen's hawkish Valentine's Day testimony on Capitol Hill, then a blockbuster CPI print, then a string
Funny stuff, just goes to prove once again everything happening west of the Rockies doesn’t count
” Additionally, the Beige Book for the March FOMC meeting included anecdotal evidence of more widespread labor scarcity, as some districts reported labor shortages of skilled workers and of workers in the leisure and hospitality, construction, and manufacturing sectors. Over the past two years, this trend toward diminished slack has coincided with slowing payrolls growth, raising the possibility that labor supply issues may already be constraining job growth at the margin.”
Were is this 3-4% growth going to come from if the demographics do not supply the labor to take the jobs. Stimulus will just feed inflation.
There is a ton of slack leave her in the under 35-year-old age group . Employers still seem to be hung up on only find over qualified people for these jobs and refuse to trainsnyo e
The tap has been shut off for undocumented leisure and hospitality workers and construction laborers. Trump even was ‘shamed into’ removing some qualified long time undocumented employees from his properties.