Bartenders And Wait Staff Dominate Jobs Added, Manufacturing Jobs Decline (Fed’s Fischer See No Bubbles)

The September jobs report was nothing short of disastrous. Not only were far fewer jobs added than we expected, the jobs added were low wage, part-time jobs … such as bartenders and restaurant waitstaff.

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Even worse, higher paying manufacturing jobs declined.

Any wonder why wage growth is so tepid?

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There is no bubble in wages. Fed Vice Chair Stanley Fischer said he see few obvious bubbles in the US economy.

Here is one of Stanley Fischer’s training videos for economists.

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