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US Private Hiring Steady, Pay Growth Firms
US private sector employers added 146,000 jobs on net last month, ADP said Wednesday, as this week's raft of key US macro releases continued to float in.
That was in line with consensus. Economists expected 150,000 or so. October's headline was revised sharply lower to 184,000 from the initially-reported 233,000.
With August's relatively weak print dropping out of the sample, the three-month moving average rose to 163,000, the highest since June.
ADP hasn't been a reliable predictor of the
There’s a question in here that comes from H’s points during COVID shutdowns … somebody’s gotta make stuff to buy.
The question here bends like this imho … where are people making their money to pay for service growth? Are we just paying each other to do things for us, and really smart machines are making all needed stuff? …
two questions: 1) who is going to make the stuff we need – services are not ‘stuff-free’? 2) can services income pay for services’ continued growth without growth in other economy corners?