Courtesy of ZeroHedge. View original post here.
For those wondering why average hourly earnings in December plunged by -0.2% on expectations of a 0.2% increase and why the November "Green shoot" surge in wages of 0.4%, which everyone took as a signal of imminent wage inflation was cut in half…
… here is the answer: in December the number of workers employed in Food Service and Drinking Places, i.e., sub-minimum wage waiters and bartenders jumped by 43,600: the highest monthly increase since 2012…
… taking the series to an all time high record of 10.848 million workers, and rapidly catching up with America's barely growing manufacturing sector.
What about other industries? Here is the full breakdown of the December 250,000 seasonally-adjusted job increase by industry: note the relentless "strength" in low-paying education and health, leisure and hospitality, and retail sectors.
