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Jobs Report Beats And Wage Inflation Is Comin’ In Hot, Folks
This week brought fresh evidence to support the notion that the U.S. economy continues to fire on al
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AHEis a misleading stat (it mislead us in Jan as well). AHe is figured by taking weekly wages and avg hours worked. actual take home pay can be different than AHE might indicate.
Real Average Weekly Earnings, also released today has only increased 1% since July 2016. YOY is only .14% increase.
Workers reall arent getting the wage growth needed to cause the ‘good’ inflation, (demand-pull). Wage inflation, and inflation from wage growth is not occurring. This is the possible root of the perpetually flattenning yeild curve.
Numbers are less sanguine than one would have projected based on a tax cut sugar high. And the FED wants to keep tightening through inversion. People must have faith in Chinese Cirque Du Soleil finance gymnastics that is analogous to believing someone that can juggle 3 will now juggle 5. Keep an eye on the unfolding that began with “:synchronized global growth” because the waters down deep are very cold indeed. The exigent forces from a decade ago might decide to begin an anniversary celebration after all.