Via
avordvet
After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a
rate hike "threshold" once it hit 6.5% and
is now at 5.1%) has become irrelevant in a country where a record 94
million people have left the labor force, and with the Fed poised to
hike rates even though US hourly wages have not only not increased for
the past 7 years, but for the
vast majority of the labor force continue to decline, some have asked - is there any labor-related chart that matters any more?
The answer: a resounding yes, only it is none of the conventional charts that algos and sometimes humans look at.
The one chart that matters more than ever,has little to nothing to do
with the Fed's monetary policy, but everything to do with the November
2016 presidential elections in which the topic of immigration, both
legal and illegal, is shaping up to be the most rancorous, contentious
and divisive.
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