Goldman: Here's Three Reasons You Shouldn't Worry About the December Wage Collapse

The weak average hourly earnings number in December was probably just a fluke
Photographer: Reza Estakhrian/Corbis

The most shocking element of last week's nonfarm payrolls report was the decline in average hourly earnings. Whereas analysts were expecting a 0.2 percent sequential gain, wages instead fell 0.2 percent. Economists have been looking for signs that wage pressure might grow as the economy gets closer to full employment, but on the surface the latest report shows things going in the other direction.

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