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Economy may be weaker than generally recognized

Spencer England | August 6, 2019 9:30 am

US/Global Economics

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.

 

Comments (5) | Digg Facebook Twitter |
5 Comments
  • SW says:
    August 6, 2019 at 10:18 am

    Well, its an unstable system and Trump is way out over his skis with China so…

  • davebarnes says:
    August 6, 2019 at 9:07 pm

    I wonder if The Dumpster® has ever been snow skiing?

  • Bert Schlitz says:
    August 6, 2019 at 9:39 pm

    Looks like employment has been slowly declining since 2015. Especially when you remove the oil price bust and Trump tax cut bump.

  • Bkrasting says:
    August 7, 2019 at 8:45 am

    Ben – Total employed is up around 9M since 2015

    https://fred.stlouisfed.org/series/PAYEMS

  • Spencer England says:
    August 7, 2019 at 10:24 am

    Employment is up, but the growth rate is slowing.

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