University of Pennsylvania, Wharton School of Business, Finance Professor Jeremy Siegel, takes a closer look at the June jobs data from the Bureau of Labor Statistics. Professor Siegel notes a .01% drop in average hours worked is the labor equivalent of dropping 450,000 jobs.
With factory demand dropping, and with inventories climbing, and with FTE’s (Full-Time Equivalents) dropping, the jobs report takes on additional context that aligns with the overall decline we feel in Main Street activity. Essentially, regardless of how many jobs are “created” within the economy, the overall economic activity -as measured by the value of products & […]
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