When we get to a point where literally just about everything can be done more cheaply and more efficiently by robots, the elite won’t have any use for the rest of us at all...
How can the wage data show a one-month plunge in earnings growth when the other parts of the labor report showed steady gains in new hiring? The answer could be a large drop in incentive or commission income due to soft holiday sales.
The December payrolls report was a disappointing 145K, missing expectations of 160K (and the whisper number of 180K), and 111K lower from the downward revised 256K in December (revised from 266K).
“The service providers posted the largest gain since April, driven mainly by professional and business services. Job creation was strong across companies of all sizes, led predominantly by midsized companies.”
Although many teenagers may be predisposed to sympathize with progressive policies like minimum wage increases, they ought to understand the larger implications of such proposals...
