Reader Moonmac disputes the case that we are in recession, in a link to my paper “Recession from 2022? A Critique”:
McService Job Nation is arguing even though they are employed. Gaining is a different matter.
I think the data suggests otherwise. While employment is growing in limited-edition restaurants (so-called fast-food restaurants), wages are growing both relative to median wages, and in real terms.
Figure 1: Limited restaurant hire, 000’s (blue). Source: BLS.
Figure 2: Average hourly wages in limited restaurants (blue, left scale), in the private nonfarm payroll sector (red, right scale), both in 2023$ (discounted using the urban-all CPI). Source: BLS, and author’s statistics.
What about people who don’t look at freely available data? Is it Excel-phobia, or can’t even figure out a calculator?
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