Posts filed under “Employment”
I have, for many years, been a regular reader of David Rosenberg. Back when he was Merrill Lynch’s chief economist, to more recently at Canada’s Gluskin Sheff, I enjoy his daily “Breakfast with Dave.”
Sometimes, it is because we disagree, and I am looking for an intelligent challenge my pre-existing notions. Other times, it is to see where Rosie and I agree. And sometimes, like in yesterday’s missive, it was simply to see something different and interesting.
The pair of charts nearby are what leapt out at me. The first chart shows Labor Force Participation Rate. It leaked in the late 1990s. Particpation rate has plummeted since. This usually gets trotted out to show how weak the job market is.
From Quartz: While executives at many top companies make top dollar, the typical employee at corporations like McDonald’s, Gap, Target, and Walmart still earns minimum wage, or something barely above it. The disparity is alarming. CEOs of American companies now earn some 270 times what the average worker makes. Source: Quartz
Source: FRED Here is an interesting question: How does the present employment rate compare with the prior peak? According to Bureau of Labor Statistics data, if we compare the prior recent peak of 139,143,000 of November 2007 with last month’s figure of 137,942,000 (I used non-seasonally-adjusted because it’s November to November), we are…Read More
@TBPInvictus here: David Rosenberg made a point in his note Monday that I don’t think went quite far enough, or at least needs a bit more color: Rosie then showed the chart below (the Haver Analytics version of it, anyway), which he dubbed “Employment Less Financials in Private Sector.” In St. Louis Fred-speak, that…Read More
@TBPInvictus here. In yet another stunning display of journalistic malpractice, Terry Jeffrey put out the following piece after last Friday’s NFP release: Because it suited his (political) purpose, Jeffrey jumped on the Household Survey; looking at the Establishment Survey would not have provided such a dramatic headline. Indeed, it would have provided, for…Read More
Source: WSJ The Labor market continues to improve. Last week Bureau of Labor Statistics reported 204,000 new positions created, and adjustments to prior months data were upward. But the gains are not all they are cracked up to be. The jobs recovery has not been evenly distributed. The beneficiaries of the economic recovery have…Read More