Hawkish Fed swoops upon young, unskilled, poor sheilas

Thursday 9 December 2021

I was reading through some fascinating US wage data yesterday when it became apparent the current frenzied market attack on an imminent wage-push inflation breakout is a kangaroo short in the top paddock.

Check out these charts. The only US demographic enjoying anything above modest pay rises is youth:

They are unskilled:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.