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%.

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.

See also  Cleveland Fed Governor Loretta J. Mester believes interest rates should go higher... Richmond Fed Governor Thomas Barkin: I also want to reduce inflation,” “And if more increases are what’s necessary to do that I’m comfortable doing that.

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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