I was watching bloomberg today and an analyst mentioned the 'economy paycheck' as a measure of (payrolls * average hourly wages * average hours worked in a week)
Here I have made the same index for observation.
Interesting how it reversed clearly as the 08 crash happened and then bottomed clearly in 09; williams trader called for long in 2011 and also...
Going short after NFP, wages is the key. YoY at the highest since December 2016 matching the highest level since 2008
MoM Average Wages posted the biggest increase since 2008
Fed Fund Futures pricing in 80% chance for a rate hike in December