BLS

Albert Edwards: "What On Earth Is Going On With US Wages"

"What on earth is going on with US average hourly earnings (AHE)? Three consecutive Employment Reports have seen this key measure of wage inflation surprise by its weakness. I feel especially foolish as I had written that wages were set to accelerate sharply" - Albert Edwards

April Was Cruel… To The US Treasury

Last month was not so good to the US Treasury. “Individual Income and Employment Taxes, Not Withheld” (the Treasury line item for receipts outside the customary withholding process) were down 5.7% year over year to $182 billion. Moreover, this is the lowest April haul since 2012. The April tax receipts of 2013 to 2016 ran between $193 billion (2014) to $219 billion (2015). This year’s receipt totals are far from those.

With 86 Months Of Consecutive Job Gains, This Is The "Best" Job In The U.S.

Well over 5 years ago, we first dubbed the economic recovery under Barack Obama the "Waiter and Bartender recovery", because while most other job categories grown at a moderate pace at best, the growth in the category defined by the BLS as "Food Service and Drinking Workers" has been nothing short of spectacular.

Where The April Jobs Were: It Was All About Minimum Wage Again

How is it that with the labor market supposedly near full employment, and the unemployment rate sliding to another post-recession low of 4.4%, wages simply can not rise? The answer was once again to be found in the quality of jobs added.

April Payrolls Preview: "It Better Be Good"

After the abysmal March labor report, all we - and the Fed - can say is that April better be good, or else Yellen's claim of "transitory weakness" will simply be the latest nail in the coffin of Fed credibility. Here is the consensus for the key numbers the BLS will report at 8:30am ET on Friday morning.

Economic Depression And Denial: "We Want To Believe We Aren't Japan"

"And so the longer it goes on, people seem to believe the greater the chance that something just has to go right. It is a happy a comforting thought, aided in emotional manipulation by the constant mainstream optimism. In that belief, every minor uptick is extrapolated far beyond its true significance as that thing that will surely restore positive balance and order."

These Are The 10 Worst (And Best) Jobs In America

The latest annual survey of the best and worst jobs in the country has again found that being a newspaper reporter (blogger may or may not fall under the umbrella) is the worst career one can be pursue.

Busting The "Free College" Myth

A new program just passed by New York’s state government promises “free tuition” for middle-class students to attend a public college or university in the state. While there are similar programs elsewhere in the US, this is the first to include four-year schools. All of the headlines include some variation of the term free college, which makes this a great opportunity to discuss what actually happens when a government provides something for “free.”

Meet The Robots That Will Build Your Next House

The U.S. residential construction industry employs 100's of thousands of people each year in various skilled trades that earn hourly pay rates ranging from minimum wage to $100 per hour, or more.  Of course, just like the auto industry, many of those jobs can be done at a fraction of the cost and with much greater precision by industrial robots.

Traders "Swoop" On Stocks, Oil Rises For 8th Day But Bonds Still Don't Buy It

S&P futures are unchanged and Asian stocks closed mixed, however European stocks rebounded for first time this week, led by auto stocks after Daimler’s quarterly profit, as a break in alarming political news prompted traders to "swoop" - as Reuters puts it - on equities, cooling a safe-haven rally that saw the yen and gold at five-month highs and bond yields to drop their lowest this year.