Average Hourly Earnings Up 4.7 Percent In One Month?

Not!  The deception of averaging as most jobs that were lost are in the lower wage sectors, such as bars and restaurants.

We have written several posts about how deceptive economic data can be simply because of averaging.  See here and here.

In April, average hourly earnings for all employees on private nonfarm payrolls increased by $1.34 to $30.01. Average hourly earnings of private-sector production and nonsupervisory employees increased by $1.04 to $25.12 in April. The increases in average hourly earnings largely reflect the substantial job loss among lower-paid workers; this change, along with earnings increases, put upward pressure on the average hourly earnings estimates. (See tables B-3 and B-8.) – BLS

Stay tuned for more analysis on the Employment Report.

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