The wage data from the non-farm payrolls report

  • Prior was 2.5% (revised to +2.4%)
  • Earnings +0.2% m/m vs +0.3% exp
  • Prior m/m earnings +0.2% (revised to +0.1%)
  • Average weekly hours 34.5 vs 34.4 expected

Yet another strong jobs report with weak wages.

76.4K of the new jobs were in retail, leisure, social assistance and admin/waste sectors. Those are the low-wage jobs and rarely full time. It's been the same story over and over for the past year.