The worse news is that “average” hourly earnings were up sharply, which means labor productivity and cost went through the floor and ceiling, respectively. That means those firms that are open saw their margins trashed. It’s bad enough when your costs skyrocket — it’s even worse when, at the same time, nobody has a job to pay for anything with.
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That Looks Kinda Bad
2 replies on “That Looks Kinda Bad”
I follow the Market Ticker daily. I highly recommend it. He has a lot to say about our “health care” that I think is worth reading.
Yeah, he’s a bit of an acquired taste though. He doesn’t pull any punches. He’s also on the Stocks and Jocks show every couple of weeks if you want to listen to him.