Near-Record Wage Spike Stabilizes Richmond Fed Manufacturing Survey

Against expectations of a '0' print, Richmond Fed Manufacturing rose from -3 to +1 in May - the first positive print since January. Despite expectations for future shipments sliding to 4-month lows and a decline in number of employees, the index itself was driven higher mainly by a huge spike in the wages subcomponent - from 9 to 20.

This is the 2nd biggest spike in wages on record...

Under the surface, it was wages that single-handedly saved the index...

Charts: Bloomberg

Comments

[q99x2]

YeeeeeeeeHaaaaaaaaa Pay them not to start the revolution until we're ready for em.

[Pooper Popper]

BULL FUCKING SHIT!!!!!!!!!!!

[silver_stacker]

Another manipulated Fed survey...who believes this shit?

[combatsnoopy]

"...who believes this shit?"

The same people who believe that the BOJ has endless liquidity.  They have no oil to drill there and their liquidity definately didn't come from sales of krappy Toshiba with the stupid Windows 8 drivers installed on it.

Japanese government of assholes are the largest funder to the U.S. government.  

[KnuckleDragger-X]

It's not manipulated, it's adjusted to show the true underlying strength of the underpants gnomes...errrr, I mean the economy.....

[firstdivision]

All the lobbyists got raises I see.

[A is A]

This wage spike seems significantly above historical norms so I'm sure they will be seasonally adjusting the data down very soon.......

[Kreditanstalt]

How can wages be rising with THIS participation rate?  As I've always suspected: the REAL "rich" are your overpaid, protected neighbours who never suffered at all in 2008-2009...