All Posts Tagged: hourly wages
Spring in February: Is it global warming, stock market gains, Donald Trump, or a rekindling of animal spirits that helped push up the job growth numbers last month?
For more on these developments, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on March 10.
- The increased momentum could have something to do with unusually mild winter weather playing havoc on the Bureau of Labor Statistics’ seasonal adjustment factors.
- Average hourly earnings growth has been accelerating as the economy rapidly absorbs remaining slack in the labor market.
- A March Fed rate hike is a near-certainty now with this strong payroll report under our belt.
- The report also raises the possibility of another rate hike as soon as the June meeting, though our baseline forecast is still for a September move.
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Growing signs of a tightening U.S. labor market were clearly visible in this month’s report, from dropping unemployment rates to rising wages.Read More ›
Overall, it’s a weaker-than-expected jobs report for August that showed renewed softening in the goods-producing side of the economy.Read More ›