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Q2 US Labor Costs Miss After Massive "One-Off" Spike Revision In Q1
On expectations of a 1.0% rise, US unit labor costs rose a disappointing 0.6% (missing for the 3rd of last 4 quarters). This should come as no surprise as despite the constant barrage of bullshit from the mainstream media's talking heads about wage growth around the corner, July saw the first annual decline in real wages since 2012. What is most worrisome for the serial extyrapolators about today's unit labor costs data is the massive revision to Q1 dats - up from a 5.7% rise to an almost record-breaking 11.8% rise. This is clearly a one-off and means wage growth (which was never really growing) is now fading rapidly.
Unity labor costs slipped back from the one-off spike revision in Q1...
which makes sense given the slide in real wages...first annual decline since October 2012.
Additionally, Productivity rose more than expected...
So the "blood from a stone" economy rolls on...
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another revision on the way to include all the illegals incoming
Bullish for healthcare and pharma stocks. People will be going to hospitals and taking medicine for exhaustion. Long Redbull
Just noise. The algo's already launched on Russian tweets nothing's gona bring them down now. Now had they announced this first, then the Russian news we might have a slight chance of being near the flat line instead of glorious days are here again.
The only thing that matters is the removal of QE now. Markets need free money, end of story. There is no free money an dthere is no collateral. This market is giving up everything it got from QE, just like Japan did every time. The only thing that will stop it is QE squared. No free money to speculators means no stock market rally.
You can't have wage growth when the only employers are massive, oligopolistic feudal cartels that run every industry in collusion with their shakedown mafioso government regulators.
BUST THE TRUSTS
With Obamacare....trust me ..cpmpanies are trying to reduce employees..not hire new ones...
The biggest cost to most employers is the labor. Replace them with robots or software the costs go down exponentially. This is our fate. The only jobs in the future will be for prostitutes, politicians, and their leg humpers. Everything else with be automated.
I'm seeing that, too. What I haven't seen yet is a company decide to stop offering group health insurance and just pay the fine. But they're all thinking about it behind closed doors.
This has been going on for 30 years. Obamacare has had zero effect. Reduce American jobs, build in Mexico, China, Indochina, and hire over there. Same shit, different day.
I see you are not with the program here. Repeat after me, If there is a problem it's all OBAMACARE. You will see your up votes soar.
Most of the posters here are not businessmen. What business would not hire full time employees if customers were swamping them. There IS NO business, people are not buying, people have no money and no credit.
Amen 100% correct
ADHD downward toward a long term chromosome+ situation.
At Youngman..........No Doubt.....and this is something that is hidden in the employment numbers by part timers!!
You can check out some of the reason for a productivity increase here(I cannot imbed the picture):
http://ejmoosa.tumblr.com/post/94155907844/goodbye-sign-twirlers-weve-al...
I saw this machine, which has replaced those sign twirlers we have grown accustomed to seeing working overtime for Little Ceaser's.
Yet another minimum wage job automated.
I thought people holding signs was a way to get around sign ordinances. I think that contraption would violate sign ordinances and littering laws.
I cannot answer that for them, except that it is not permanent and they take it in every evening.
Nobody with any real power wants wage growth.
SSDD/ Fuck this sideways clown show. Have a good weekend everyone. Thanks TYLERS for keeping us alive this week/
Labor costs include a lot more than wages - and we know that healthcare and all the other 'taxes' on employing a laborer will increase much faster than even the real inflation rate. And as those other costs increase, the pressure will be to DECREASE wages!
Wage growth in the construction fields has been non existant for over 25 years.there once was Craftsman now its all about who can do it the cheapest.And with a government that does not inforce the law so much cheap labor has come into the country from the southern border.When i was in highschool they would tell us If you know a Trade you will have a job for life.What a bunch of bullshit
Your high school teachers might have exaggerated but having a trade is still a skill that will become even more important as society starts to really crumble....
deflation
what do you think yellen?
since gubbamant's revenue is tied to percentages, deflation should have a nice devastating effect
no more $200,000 per year firemen - that's a shame
Stick to the script! At all costs! Stick to the script!
http://www.cnbc.com/id/101890969#.
All Tennessee's Employment Growth Since 2000 Has Gone to Immigrants; Yet, Natives Accounted for 60% of Population Growth
WASHINGTON, Aug. 4, 2014 The Gang of Eight immigration bill (S.744) passed by the U.S. Senate last June, and voted for by both Tennessee senators - Lamar Alexander (R) and Bob Corker (R), would have roughly doubled the number of new foreign workers allowed into the country, as well as legalized illegal immigrants. To put into context the possible effects of this legislation on Tennessee, the Center for Immigration Studies has analyzed recent government data on employment.
The analysis shows that, since 2000, all of the net increase in the number of working-age (16 to 65) people holding a job in Tennessee has gone to immigrants (legal and illegal). This is the case even though the native-born accounted for 60 percent of the growth in the state's total working-age population.
At best it's wrestling over pennies when the problem is dollars.
Obviously they aren't using enough fairy dust...