by Elise Gould EPI Average hourly wage growth has exceeded inflation for 12 straight months, according to new Bureau of Labor Statistics data released this morning. This real (or inflation-adjusted) wage growth is a key indicator of how well the average worker’s wage can improve their standard of living. As inflation continues to normalize, I’m optimistic more workers […]
– by New Deal democrat With this week’s inflation report for April, we can update several measures of the real economic status of average American workers, as well as their forecast for further job and economic gains. First, here is real average hourly wages for nonsupervisory workers. In April, nominal average wages increased 0.2%. Since […]
I was a graduate student in a STEM program when Reagan was elected and the Laffer curve was used to justify tax cuts. The problem that immediately stood out to me at the time was that neither the ordinate nor the abscissa in the Laffer graph had scales, so it was impossible to assess where, […]
– by New Deal democrat This morning, I pointed out that manufacturing production is -1.8% below its 2022 high and may be in a slightly declining trend. Which means that added attention has to be paid to whether the other leading production sector, construction, is holding up. Instead, this morning brought the first sustained evidence […]
I will probably add a topic of my own choice. you do bot have to follow it.
– by New Deal democrat The Bonddad Blog Here is today’s update on one of my favorite indicators: retail sales. In April they were unchanged on a nominal basis. Adjusted for inflation they declined -0.3% for the month. They are also down -6.2% from their 2021 peak and -2.9% since January 2023: On a YoY basis, they […]
– by New Deal democrat First, a programming note: I’ll post about retail sales later today. Consumer inflation in April continued essentially to be an interplay between shelter and gas prices, with a side helping of auto insurance and repairs. During late 2022 and early 2023, shelter was still accelerating or steady at a high […]
– by New Deal democrat Tomorrow and Thursday a plethora of data will be released, on consumer inflation and spending, production, housing, and jobless claims. In the meantime today we got a chance to look at upstream pressures on inflation. And those upstream pressures do seem to be building slightly, reflecting a strong economy with […]
The old man knew what it was. At first, he hoped to wait until tomorrow. That wasn’t meant to be. He had to go now, and his regular Doctor was too far away; especially at the time of day. The nearest Emergency Room (E.R.) it was. By this time, he could barely walk, but felt […]
Weekly Indicators for May 6 – 10 at Seeking Alpha – by New Deal democrat My “Weekly Indicators” post is up at Seeking Alpha. The majority of short leading and coincident indicators continue to show strength rather than weakness. This week it was commodity prices’ turn to show that the global economy is getting stronger. As […]