Posted on 04/10/2019 2:03:06 PM PDT by Vigilanteman
Key Points
Last Fridays payroll report was generally cheered as having Goldilocks characteristics, but a closer look is warranted.
Wage growth was weaker-than-expected, with low wage industries in the spotlight; while manufacturing employment data is also troubling.
Layoffs are picking up, while consumers are worried about future job opportunities.
The monthly payroll report is always closely scrutinized by economists and market watchers; perhaps even more so these days given the Federal Reserves decision to shift into neutral/pause mode earlier this year. After a dismal February, payroll growth rebounded in March; with nonfarm payrolls rising a higher-than-expected 196k, and slight upward revisions to the prior two months. The unemployment rate remained at 3.8%, which is slightly above a 49-year low; while the labor force participation rate dipped. Average hourly earnings (AHE) represents the proxy for wages, and they were up a less-than-expected 3.2% relative to a year agodown from 3.4% in February. (AHE for production and nonsupervisory workers was up a little more at 3.3% year-over-year; and is the wage proxy in the charts below.)
(Excerpt) Read more at schwab.com ...
All I know is that for the first time in 10 years my phone is ringing off the hook.
I might even think about retiring but I am making too much money.
The WSJ perpetual and pot-banging campaign for open borders (they would insist they they don't want open borders, they surely appear to) is not just irritating, it makes no long-term sense.
I get the "cheap labor express" foolishness, but in the long-term, we don't have a Country left if our culture is overtaken by American-culture-hating illegal aliens just here for the free stuff, courtesy of us taxpayers.
Crime, including drug gangs and human trafficking, liter, imported disease, and a capitalism-unfriendly government put in place by imported voters outweigh any alleged benefit from short-term cheap labor.
I do not see why the WSJ does not see how THEY are adversely affected by the long-term effects illegal alien cheap labor.
Multiply cases like ours by millions of Americans and you can actually sense some light at the end of the long dark tunnel . . . if only we would quit importing so many of the parasitic class!
I like Schwab takes in general also. I think the FED regrets the last raise, which hasn’t completely worked its way into to economy yet. But a FED cut would spook the markets right now. So we are stuck with a economy that is languid when it could be stronger. I predict a good chance for a cut in the fall and perhaps another in the spring. Depends on how the rest of the world is doing going forward.
Great outfit, Schwab. They made me a heck of a deal to move most of my retirement account there. They will actually pay you $100 to try them out if you get a referral code from a current customer (who gets $0).
Don’t be too high on Schwab...for that matter, Forbes, too..
Lizann Sonders is a never Trumper and if you dig back, they were against him and his policies...
The Wall Street Journal represents the financial sector, and I assure you what happened in the tech sector is happening in the financial sector as well. White-collar Asians are rapidly replacing American workers there; when Occupy Wall Street originally started, those paid-off American workers demonstrated in front of their former employers in NYC - and you could actually see the Asian workers filing past in the background, going to the desks formerly occupied by those Americans.
Even at the branch level, entering the local banks I see young foreign workers standing on their tiptoes or sitting on phone books peering over counters designed for Westerners; all of the middle-aged or older American staff are gone. The “manager” is now the foreigner old enough to buy alcohol; usually speaks the least-accented English...
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