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.
Friday 3 May 2013
Average Hourly Earnings do not confirm Unemployment
Posted on 10:19 by Unknown
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