I have written many blog posts concerning the worrisome trends in income and earnings.
Along these lines, one of the measures showing disconcerting trends is that of hourly earnings.
While the concept of hourly earnings can be defined and measured in a variety of ways, below are a few charts that I believe broadly illustrate problematic trends.
The first chart depicts Average Hourly Earnings Of All Employees: Total Private (current value = $23.63) :
(click on chart to enlarge image)(chart last updated 12-7-12)
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This next chart depicts the same measure on a “Percentage Change From A Year Ago” basis. While not totally surprising, I find the decline from 2009 and subsequent trend to be disconcerting:
(click on chart to enlarge image)(chart last updated 12-7-12)
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There are slightly different measures available from a longer-term perspective. Pictured below is another measure, the Average Hourly Earnings of Production and Nonsupervisory Employees – Total Private (FRED series AHETPI)(current value = $19.84) :
(click on chart to enlarge image)(chart last updated 12-7-12)
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Pictured below is this AHETPI measure on a “Percentage Change From A Year Ago” basis:
(click on chart to enlarge image)(chart last updated 11-2-12)
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I will continue to actively monitor these trends, especially given the post-2009 dynamics.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 1417.32 as this post is written