Failed Trump Assassination Attempt Did Two Things for Dems, None of Them Good.
It’s Good That Noted Idiot Alec Baldwin Walked
Senior House Dem: We're Resigned to a Second Trump Presidency
Top Dem Strategist: This Trump Assassination Attempt Might Be 'Staged'
They Knew: NBC News Reports Secret Service Knew About Rooftop Vulnerability Days Before...
The Storm Before The Calm
When You Set the Bar Low...You Jump Low
He Would Have Just Been One More
A Call to Our Better Angels
Complete Nonsense: Joe Biden, “'he 14th Best President'
Donald Trump, America's Profile In Courage
The Protection of Divine Providence
Could Trump Become the Great Unifier?
Can We Unite?
Did Biden Just Say He Is Going to 'Make America Great Again' Following...
OPINION

Declining Wages to Rescue?

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

The last time the Bureau of Labor Statistics released the employment report, there was something gnawing at the street- wages were too high. So, the market swayed and buckled sending major indices rolling along lower to test potential breaking points. Even though those key support points held, and the markets passed that test, it underscores the kind of Fed-anxiety that haunts the market far too much.

Advertisement

Fast forward to this morning, and the script has been flipped.

Jobs grew by 242,000 in February beating the consensus of 190,000. That would seem like to be a red flag at the Fed, which is obsessed with hiking rates. Yet, wages actually declined to average hourly wages of $25.35, down $0.03.

The unemployment rate gets all the air time and ink, but it’s not the most important component beyond the headline number and wages. Participation is critical as a reflection of folks getting off the sofa to even look for jobs. There is a long way to go before that schism is healed.

In the meantime, the most important way of measuring current job success versus past conditions is the employment-population ratio. While it continues to improve, we are a long way from pre-recession levels.

I’m still combing through the data, and the street is still trying to decide if this is not-too-hot and not-too-cold.

Sponsored

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos