Many service jobs created, but public sector pay well ahead of average and service jobs
Recent weakness two sectors: retail/ restaurants and construction.
NRA member Trumpets vs smashed avocado on toast loving Massholes?
Companies forced to give payrises to the least productive workers, while senile Boomers retiring at peak productivity with little savings are having to step down to part time service jobs
The tea party states
Much of the weakness in headline numbers in Q2 and into Q3 has been a function of disasters in a few sectors (autos, retail, some areas of industry), but by definition these can only be temporary, are partly down to structural shifts, and elsewhere there is tightness.
Companies have been reluctant to pay up for more staff, but we need the stronger companies to pay more and squeeze the weak ones. If that starts to happen and the July bouce continues it will squeeze margins into year end and underpin a pick up in defaults in 2018.
One fly in the ointment is the collapse in credit growth this year, which has continued through August.