Sunday, January 26, 2014

The Fed's Real Accommodation

The following chart shows the monthly change in the 12-month moving average of the aggregate weekly hours of production and nonsupervisory accommodation industry employees.

Click to enlarge.

In case you didn't know, it's an alarm! You're not on a pleasure cruise!

Source Data:
BLS: Employment
NBER: US Business Cycle Expansions and Contractions

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