Spencer England | August 6, 2019 9:30 am
Note how the survey data is weakening more than the payroll data
The survey data tends to lead the payroll:
In 2019 payroll employment — what Wall Street pays attention to –is the weakest since 2012.
Moreover, hours worked has flattened out:
Finally, average hourly wage growth is also weak.
Well, its an unstable system and Trump is way out over his skis with China so…
I wonder if The Dumpster® has ever been snow skiing?
Looks like employment has been slowly declining since 2015. Especially when you remove the oil price bust and Trump tax cut bump.
Ben – Total employed is up around 9M since 2015
https://fred.stlouisfed.org/series/PAYEMS
Employment is up, but the growth rate is slowing.