As we showed moments ago, the scariest chart of today's nonfarm payroll report was the plunge in average weekly earnings. For those curious why US workers are unable to make any headway in obtaining higher wages, the following breakdown of just where the 175,000 (seasonally adjusted, because apparently now seasonal adjustments work again) February job gains were should provide some color.
Unfortunately, as has been the case for the past several months, well over half the total job gains in February were in industries that pay the least.
To wit:
Education and Health: +33K
Leisure and Hospitality: +25K
Temp Help Services: +24K
Government: +13K
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
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