Market Overview Analysis by Lance Roberts covering: . Read Lance Roberts's latest article on Investing.com
’s three-month average is a half percentage point above its 12-month low. As shown, the latest employment report has triggered that indicator.
We see that same support to economic activity in the monetary supply as a percentage of the economy.Production must come first to generate the income needed for that consumption. The cycle is displayed below. While the media touts the ‘strong employment reports,’ such is mostly the recovery of jobs lost during the economic shutdown.
While President Biden recently touted strong employment growth in his SOTU address, full-time employment as a percentage of the working-age population failed to recover to pre-pandemic levels. However, that chart is a bit deceiving as it reflects all compensation and wages. Twenty percent of income earners have seen wages increase, particularly forHowever, for the bottom eighty percent of employees, the decline in wage growth is quite dramatic and on par with previous recessions.
While they initially raised wages to attract talent following the shutdown, that is beginning to reverse as sales fail to materialize.
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