Elderly Americans Are Taking Their Grandkids' Summer Jobs

Despite apparently encouraging circumstances, teenage workforce participation rates are at their lowest levels in more than a decade. Why? Because teens these days are facing stiff competition from Americans over the age of 65 – i.e. their parents and grandparents.

Where The May 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 a post 2001 low of 4.3%, wages simply can not rise? The answer was once again to be found in the quality of jobs added.

People Not In Labor Force Soar By 608,000

In May, a whopping 608,000 American exited the labor force, as the number of people not in the labor force surged to 94.983 million, up from 94.375 million in April.

May Payrolls Preview: The Tiebreaker

After a poor March jobs report, followed by an April scorcher, the May payrolls report due at 8:30am on Friday will be the tiebreaker, not only for the current state of the economy where both soft and hard data have been deteriorating in recent weeks, but perhaps also for the June rate hike decision, which as the Fed noted in its May FOMC minutes, may not take place without "evidence" that the recent "transitory weakness" in the economy is over.

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