• 13 hours Can Toyota's Hydrogen Car Take On Tesla?
  • 2 days Why Universal Basic Income Won't Work
  • 2 days Is This The Real Golden State?
  • 3 days Blockchain Firm Pushes For Ethical Mining
  • 3 days America’s Working Class Are Footing All The Bills
  • 3 days Market Volatility Sends Investors Scrambling Into This Asset Class
  • 4 days How Much Energy Would It Take To Power The Death Star?
  • 4 days A Tweet About Hong Kong Could Cost The NBA $4 Billion
  • 4 days World's Largest Miner Doubles Down On Renewables
  • 5 days Nasdaq Cracks Down On Small Chinese IPOs
  • 5 days Is There Any Reason To Be Bullish About Netflix?
  • 5 days Precious Metals See Record Inflows As Investors Hedge Against Teetering Economy
  • 6 days NYU Professor: Tesla Could Lose 80% Of Its Value
  • 6 days Uber To Offer On Demand Employment
  • 6 days SoftBank Reeling After Questionable WeWork Investment
  • 7 days Opportunity Arises In The Democratic Republic Of Congo
  • 8 days Peter Thiel’s Promised Land For Intellectual Troublemakers
  • 9 days Why Gold Stocks Are Drifting Lower
  • 9 days Copper Miners Feel The Squeeze As Prices Slip Once Again
  • 10 days Uncovering The Universe’s Biggest Secrets
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Mish on Capital Account: Jobs, Real Wages, Income Distribution, Fiscal Stimulus

On Friday, I once again had the pleasure of being on Capital Account, live television with Lauren Lyster. I believe you can pick up the show on Comcast but it is not available on ATT U-verse, at least in my area.

We discussed the latest jobs report, real wages, Keynesian stimulus, income distribution, taxes, and other topics.

I come in at about the 3:00 mark, but the first few minutes of Lauren are entertaining as usual.

Link if video does not play: What Happens When Jobs Rise But Leave Wages And Living Standards Behind?

Here are a couple of charts from my Friday Jobs report (see Nonfarm Payrolls +171,000, Unemployment Rate 7.9%; Good All Around Numbers), that we discussed in the video.


Index of Aggregate Weekly Hours

Index of Aggregate Weekly Hours

The index of aggregate hours paints a good picture of the stall in the recovery. Employment is up, but hours are not up proportionally. This reflects the trend to part-time workers and the reduction of hours in part-time workers.


Average Hourly Earnings vs. CPI

Average Hourly Earnings vs. CPI

Average hourly earnings has been falling for years and lagging CPI inflation since September 2009. Simply put real wages have been declining. Add in increases in state taxes and the average Joe has been hammered pretty badly.


Income and Wealth Distribution

We also discussed income and wealth distribution and what causes the inequity. In case you missed it, please check out my detailed description in What's "Really" Behind Gross Inequalities In Income Distribution?

I had a fun time on Capital Account as usual, and will be back on the first Friday of every month to discuss jobs.

Read more at http://globaleconomicanalysis.blogspot.ca/2012/11/mish-on-capital-account-jobs-real-wages.html#PiotUKUFJDJsvukp.99

 

Back to homepage

Leave a comment

Leave a comment