This morning's release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 147.8, up fractionally from the previous week. Year-over-year the four-week moving average of the indicator is now at 2.50%, down from 2.64% last week. The WLI Growth indicator is now at 0.6, also down from the previous week.
"Outsized Gains for Least Educated Limits Wage Growth"
ECRI's latest article discusses the 10% of employed who do not have high-school diplomas, yet who have seen the most gains in employment since the recovery. From the article: "...In essence, the jobs recovery has been spearheaded by cheap labor." Read more
The ECRI Indicator Year-over-Year
Below is a chart of ECRI's smoothed year-over-year percent change since 2000 of their weekly leading index. The latest level is above where it was at the start of the last recession.
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