he monthly U.S. jobs reports have topped market estimates many times this year, including the July and August non-farm payrolls reports, which showed 528,000 and 315,000 new jobs, respectively, higher than what many economists and analysts had initially projected…
Several experts may have determined what is causing better-than-expected labor numbers. The answer may have to do with double-counting…
Many have championed accelerated wage growth over the past 18 months. In August, average hourly earnings held steady at 5.2 percent year over year, hitting $32.36. But inflation has eaten away at those gains.
BLS data show that real average hourly earnings (inflation-adjusted) fell 2.8 percent. In addition, when real average hourly earnings are combined with the 0.6 percent drop in the average workweek, the figure is negative 3.4 percent. Read more…
