Wonder what the spin doctors will have to say about this…
It’s always been held as a truism that as the labor market tightens, wages then go up.
I’ve heard that we’re at or very close to full employment. OK.
Why aren’t wages going up?
Obama’s fault. And CNN and failing NY Times’.
Because the 1% are the real victims, okay?
Economic security is nice and all, but every time I read stories about growth, I can’t help but think “Violet, you’re turning violet, Violet!”
When you have an aging population you will not get the growth rates that you had when the Baby Boomers were forming households and buying homes and furniture and other stuff. This is the reality that I hear very few politicians of any stripe admit. Probably because there are more votes in pretending that demographics isn’t real.
Damn beat me to it! And as far as CNN and MSN they are lying, fake news!
When you have an aging population you will not get the growth rates that you had when the Baby Boomers were forming households and buying homes and furniture and other stuff.
Not disagreeing with what you’r’e saying. But shouldn’t we be able to subtsitute Baby Boomers for Millenials?
Funny how The Vulgar Talking Yam hasn’t taken credit for this in a raging tweet. Maybe Kelly really does have him on lockdown…maybe it will rain lemonade later.
Trump: Obama is now back at it. First, he created Harvey and now he is taking away jobs. I can bet he will take the stock market down next and blame me for it.
Clearly, this one is Obama’s fault…or these numbers are all “rigged” to make tRump look bad. Take your pick.
Only when they publish information that Don the Con considers negative. When it’s Trum-positive, they’re great!
Yeah but the population is getting smaller than it was. That’s the interesting thing to me with all the development around Raleigh NC where I live. Granted a lot is folks moving here from up north, and maybe we’re getting immigrants from other countries,but when the population levels out and then starts dropping off, it really make me wonder about all the empty spaces and houses.
There have been a number of interviews in this morning, ranging from informative to Nothingburger. On the one hand you had Cohn–and forgettably MinOosh, mouthing the same vague trickledown BS about tax policy. Cohn uttered the Whopper that when corporate taxes were lowered, union pension funds–Firemen and Teachers! were going to make such a killing on their fund stock holding, "Well, you won’t believe it! David Faber didn’t.
On the other hand you had Jan Hatzius, who still works at Goldman–and did when Cohn was a bigwig there-- and isn’t overly beholden to ideology, saying that the tax cut wouldn’t affect worker prosperity much. Also he pointed out that if you took into account big increases last month in, for example, retail employment, the weakness this month didn’t mean as much.
Finally, Dennis Gartman said that uness Texas gets much worse over the weekend, there will still be enough gas around. Of course the vendors will use the eexcuse to charge more. Gartman also ascribed Harvey to Global Warming. He apparently wasn’t afraid to do this although maybe 15-20% of his subscribers owe allegiance to oil and similar indistries.
Of course, Gartman gets paid to deal in facts. And reasons.
They’re helpful in making accurate predictions.
@lizzymom
Spin doctors:They’ll surely try to use job report weakness as an excuse for tax cuts. Next month if things are even a little better they’ll say measurement error. Even I can’t argue there.
It is hard to say if this is the beginning of anything. Summer is a slower time for the economy generally and the change isn’t all that large. We will have to look again in a few months.
Right now, for middle class people nearing retirement like me the problem is finding a good place to park cash. Interest is so low we are pretty much stuck with dividend yielding stocks. The stock market is a risky place for an older person. I don’t want more than 10% of my assets in stock, but some people are recommending 25% which still leaves a lot of money on the sidelines.
If I get a big tax cut, that will mean even more parked money with nothing to do.
In the spot labor shortage areas, Hatzius says wages are rising… What I heard on the other side was that some execs still aren’t hiring for the same reason overseas investors aren’t buying homes to rent out. “Turbulence in Washington” (cough)Trump(cough). Nobody will say it on the air, though.
Read “The Second Machine Age” and you will understand. Robots are displacing people all over the economy. Amazon is running big box stores out of business. White color jobs are being automated out of existence. Wonder what those self checkout machines mean to employment at Walmart and Home Depot. What about the computerized call centers where you never get a living person. All of that is going to increase.
The Baby Boomers belonged to larger families, and grew up in a time when high tax rates forced businesses to invest in job creating activities and write off those expenses to avoid big tax bills.
Also, higher levels of union membership forced average wages up.
In addition, Baby Boomers grew up when Western Europe and Japan were still rebuilding from the devastation caused by World War II. When they rebuilt and grew their economies, the US faced greater competition.