First Plunging Wages, Now Falling Retail Sales

January 14, 2015 1 Comment

Great recovery we have going on here. The economy keeps creating all of these jobs, and yet, wage growth keeps slowing. On top of this, retail sales dropped a whopping 0.9%, which is much larger than the -0.1% estimated.

Notice the overall trend: 


Of course, the largest drop was in Gasoline Stations. However, even when you consider the control group (retail sales without gasoline and automobile sales), retail sales fell 0.4%. So there is really no way to attribute gasoline as the cause of all of this.

Now for the component breakdown of retail sales:

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