, 11 tweets, 3 min read Read on Twitter
Three-month moving average still solid, but definitely moving down
Wage growth continuing to flatline, very frustrating at this point in the cycle and after the pick-up last year
For another visual of job growth slowing down, here's average job growth by month at this point in the year for the last few years
Prime-age e-pop sirens: growth is officially flat over the year:
One bright spot - the part-time for economic reasons rate hit 2.4% - its lowest in this recovery and below its pre-recession low of 2.6%
The long-term unemployment rate also hit its pre-recession low (there's been a lot of discussion about that number given the recent work from Ahn and Hamilton)
As a perfect encapsulation of where the economy is right now, after a gangbuster 2018, job growth year-over-year in goods is just about where it is for services. Goods has seen a dramatic slowdown, while services has held up better.
Job growth still higher in middle- and high-wage industries than in low-wage industries, but has slowed down in middle-wage industries (likely reflecting the slowdown in goods industries)
Now here's something fun - the tick-up in wage growth reflected acceleration in wage growth for low-wage industries, and a deceleration for high-wage industries
Education and health services continues to be a strong driver of growth
Just for more color on the wage growth by industry tier, in low-wage industries it is now 4.6%(!), whereas in high-wage industries it's only 2.5%.
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