Initial Jobless Claims Fall to 1999 Levels! Too Bad Real Income, Wage Growth and Labor Force Participation Are So Much Lower!

Initial jobless claims fell 302,000, more than the expected 310,000! The US economy is finally back to 1999 levels.

Too bad that real median household income, labor force participation, and average hourly wage earnings are so much lower beginning in 2009.

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Labor’s share of nonfarm productivity continues to decline, driving down wage rates.

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Again, some recovery.

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