Strong jobs but weak wage growth
The market is caught between a strong jobs headline and weak wage growth. The headline was at least partially priced in after ADP but the Fed wants to see wage growth before hiking and a rise of just 0.1% compared to 0.3% expected isn’t going to cut it. In addition, the December avg hourly earnings number was revised to +0.2% from +0.4%.
Average hourly earnings spark a US dollar whipsaw despite strong jobs growth
ByAdam Button
Feb 3, 2017