Friday, July 31, 2015

The Obozo Recovery, Part 34,576

Yup.  Wage "growth" is in the dumper.

The quarterly increase in US wages was just 0.2% - a third of the 0.6% rise expected - and a meager 2% increase Y/Y in line with all the other depressed BLS data, which dashes the "wage growth is looming" meme and crushed the 0.7% rise in Q1 that had so many hopeful of escape velocity any day now.
Because the ECI tracks the same job over time, it removes shifts in the mix of workers across industries, which is a shortcoming of the hourly earnings figures, which makes this number even more of a diaster. This is the weakest US wage growth since records begain in 1982 and half as slow as the weakest of 57 economist estimates....

Yah, hey.  You can keep your debt, whether you like it or not, because your earnings will NOT grow.

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