BoAML | With an abundance of stories about how things can go wrong for the US economy, we are often asked to lay out a scenario in which the data surprise to the upside. In our view, the burden rests on the labor market. If there is an increase in demand for labor, which is met by a gain in supply, we could settle on a stronger trend in job growth.
US Labor Market
UBS | A below -consensus payroll print and a 37,000 increase in the pace of initial claims reported in May have caused some to question the health of the US labor market. We examine why these worries are unfounded and how, if anything, these signs of “weakness” may actually be sig ns that wage growth could soon begin to accelerate.
WASHINGTON | By Pablo Pardo | It is twice easier getting a minimum wage job with no benefits at Wal-Mart than being admitted as an undergrad to Harvard. The comparison shows how extreme is the labor market in the US for non-educated workers, and also that, in today’s world, getting a first-class education can be easier than a third-class job.
WASHINGTON | By Pablo Pardo | For all the talk about the jobless recovery, Barack Obama has, in less than 5 years, created three times more jobs than George W. Bush did in eight years. Under the current president’s tenure, 3,140,000 jobs have been added to the US economy. It is not a bad record of achievement, at least taking into account that, in January 2009—when Obama moved to the White House–, the United States destroyed 600,000 jobs, its worst number in 34 years. Talk about legacies.