678k Jobs Added, 0% Growth In Earnings (MoM), Inflation Is 7.5% (REAL Wage Growth Negative -2.4%)

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by confoundedinterest17

Today’s jobs report is a mixed-bag. According to the February Bureau of Labor Statistics (BLS) report …

The good: 678k jobs were added.

The bad: Month-over-month wage earning experienced 0% growth (although YoY growth declined to 5.1%).

The ugly: inflation is still at 40 years highs of 7.5%. Meaning that REAL wage growth is -2.4%.

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Here is the jobs report summary.

Of course, the leading sector for job creation was … leisure and hospitality with 179k added. Food services and drinking places (aka, bars) added 124k jobs.

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Energy prices are way up … again … which will fuel more price increases. WTI Crude is up over 4% overnight, NYH gasoline futures are up 4.33%, coal is up 22.48%.

Hey bartender! You are the leading job addition.

 

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