"American labor markets are not tight. America is not even close to full employment. America is in a depression. That’s one reason why wages have been stagnant despite declining unemployment rates."
"This week brought forward more evidence that we are living in a fabricated world. The popular storyline presents a world of pure awesomeness. The common experience, however, grossly falls short."
"When I wrote about “crazy Bernie Sanders” in 2016, I wasn’t just engaging in literary hyperbole. The Vermont Senator is basically an unreconstructed leftist with a disturbing affinity for crackpot ideas and totalitarian regimes."
If the unemployment rate is at a 17-year low, then why does wage growth remain so tepid? After last Friday’s jobs report, that’s a question on many investors’ minds.
"This is ridiculous. What an asinine idea... Bernie Sanders may be a socialist, but the United States of America is not a socialist country... We don’t want jobs just so people work. The goal is the production – that is the product of those jobs."
After years of monthly payroll reports padded with excessive minimum wage waiter, bartender, educator or retail worker jobs, the just released April jobs report showed surprising strength in most components.
In a direct reversal of the February wage inflation scare, today a jump in hours worked is confusing markets about what is going on, even as overtime hours worked soared to new cycle highs, a sign employers can't find more workers.
"U.S. Rep. Timothy J. Ryan, D-Howland, urged GM chairwoman and CEO Mary T. Barra to consider a layoff aversion program called SharedWork Ohio. The program would allow GM to reduce the laid-off workers’ hours in a uniform way..."
One out of every six American retirees is a millionaire, a new report has found, adding that the average retiree's wealth has risen over 100% since 1989, to $752,000 - while the share of millionaires has doubled.
Last year, the average share of gross wages paid in tax across the OECD was 25.5 percent, but there is a considerable difference in tax rates between countries...
If one believes that the laws of supply and demand continue to hold true, then the revised Phillips curve graph above argues that the unemployment rate is in reality much closer to 9% than 4.1%...
"Bounces off the 200-day exponential moving average lines keep getting weaker for all the major indexes... I expect all the gains back to 2007 to be wiped out. "
