Elliot Clarke, Research Analyst at Westpac, suggests that the June employment report and CPI report collectively highlighted the financially constrained state of the US consumer. Key Quotes “The primary restraint for consumption evident in the data is an absence of real wage gains. In the June quarter, annual real hourly earnings growth came in at just 0.1%yr. As hours worked are also unchanged over the period (indeed since 2014), the established worker is yet to see a meaningful benefit from the post-GFC recovery.” “Technology and globalisation are at play here; however, the domestic supply of labour still returning to work 10 years after the GFC is arguably the major impediment to accelerating wage inflation.” “Employers won’t be forced to boost pay and conditions to attract workers for a while yet, with at least another year of strong employment growth necessary to erode remaining slack.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Technical Analysis: Brexit fears keeping the GBP in place FX Street 5 years Elliot Clarke, Research Analyst at Westpac, suggests that the June employment report and CPI report collectively highlighted the financially constrained state of the US consumer. Key Quotes "The primary restraint for consumption evident in the data is an absence of real wage gains. In the June quarter, annual real hourly earnings growth came in at just 0.1%yr. As hours worked are also unchanged over the period (indeed since 2014), the established worker is yet to see a meaningful benefit from the post-GFC recovery." "Technology and globalisation are at play here; however, the domestic supply of labour still returning to work… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
