vrijdag 3 mei 2013

Average Hourly Earnings do not confirm Unemployment

As Zero Hedge reports here, the average hourly earnings were going down. That is not consistent with a lower unemployment rate.

Coincidentally, I have a chart on this correlation right here.

And it looks like this:

As you can see, how can the unemployment rate fall (yellow chart) if the average earnings go down (blue chart).

Reason: part time workers and people leaving the labor force.

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