Baker Market Update: 3.12.18

While former White House Economic Adviser Gary Cohn may have joined the ranks of the unemployed this week, there are 313,000 other non-farming Americans who just found new jobs. The Bureau of Labor Statistics (BLS) released its February Jobs Report this morning and last month’s increase in payrolls far exceeded the anticipated rise of 205k. On top of that, January’s count of 200k new jobs turned out to actually be 239k. What’s not to love about that?! Well, there are many who are not loving the meager boost of just 0.1% in Average Hourly Earnings as the year-over-year rate of wage gains actually fell from the previous month’s downwardly revised 2.8% to this month’s 2.6%. Well, you can’t have everything, but the 0.0% change in Q4 Non-Farm Productivity amounts to pretty much nothing. 

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