Not So Fast: This Is Where All The “Blistering” Hourly Earnings Growth Came From
by Tyler Durden
ZeroHedge.com
Jan 6, 2017
There is a simple reason why the vast majority of American workers, some 82% of them, are not feeling any wage growth: there simply isn’t any.
After today’s jobs report, Wall Street has been fast to ignore the modest headline payrolls disappointment, which in December rose less than expected following an upward revised November, and focus exclusively on that “other” number, the jump in average hourly earnings, which in December rose 0.4% on a monthly basis, and a blistering 2.9% Y/Y, the highest annual growth since the financial crisis, as shown in the chart below.
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