Here's an update of the new and improved real weekly wage picture (another month's data is available). This time I've opted for a 4th order polynomial. Once again I'd like to point out that there are many, many ways to put a trend line through the data. If all it took to predict the future was a great trend line, I'd be off investing aggressively in pork bellies!
Since I happen to be a bit bearish on the American worker's outlook, I'm not a believer that this new upward trend will hold. However, I also happen to know I could be wrong.
See Also:
Real Wages
Trend Line Master (humor)!
Source Data:
Current Employment Statistics (CES)
Consumer Price Indexes (CPI)
Can I order these polynomials to go? How come you had to order this one FOUR TIMES before you got it? I don't understand. Is this new math?
ReplyDeleteStagflationary Mark's Polynomial Quick Lube
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Hey Mark being that you into polynomials and all this good stuff how about a chart of the not in labor force numbers from the BLS for say the last 10 years or so.
ReplyDeleteKevin
Kevin,
ReplyDeleteI'll see what I can come up with. Don't count on it right away though. I'm stuck doing it the manual way, one BLS report at at a time.
I feel like I'm in the movie Office Space when I'm in that BLS employment data. There must be a better way to get the data and I just haven't figured it out yet.
Hi, Peter. What's happening? We need to talk about your TPS reports. - Office Space