by Bill McBride on 6/02/2006 12:24:00 PM
Friday, June 02, 2006
Click on graph for larger image.
This graph shows employment growth for Bush's second term. So far job growth has been about as expected.
Kash has more: Employment Update
"Those who were employed actually worked fewer hours in May, and nominal earnings were stagnant after rising at a reasonable pace for the past several months (this means that real earnings fell, of course). All in all, this is a pretty lousy jobs report.And from Barry Ritholtz: NFP stinks -- and Some People Still Don't Get It
Does this provide evidence of a slowing economy? We'll need a few more months of weak job readings to tell for sure, but it's definitely starting to look like a real possibility."
"As unemployment starts ticking up, it will not be pretty. It suggests the next recession will be more severe than the last one."From Brad DeLong: A Non-High Pressure Labor Market
"Three percent productivity growth. Zero percent real wage growth. Not an economy near full employment feeling rising inflationary pressures from labor."
Posted by Bill McBride on 6/02/2006 12:24:00 PM