My prediction will ring truer than any of us hope. Socialism will sweep over this nation. I fear to cancer and it's going to be worse than what we saw with woke stuff. People are stagnant in wage growth. No one in the United States, including wealthy people, who haven't taken significant notice of the increased cost of groceries and the increased cost of buying home goods. Everyone's rent goes up every year. There was this Tik Tok rant that went viral this week about this woman that's like, "Why does my ren ...

Japan’s civil servants are set to receive the biggest pay increase in 34 years, which could further reinforce the virtuous cycle of wage and price growth long sought by the Bank of Japan as a precondition for continuing monetary tightening https://t.co/bgcTtrEiQ9 ...

Employment & Economic Growth - The US economy added 147,000 jobs in June, exceeding expectations [1] - The unemployment rate slightly decreased to 4.1% [1][4] - Average hourly earnings show a 3.7% growth over the past year, indicating compensation for employed individuals [2][11] - The first quarter GDP number came in at 0.5%, indicating a not strong but not weak economy [15] Sector Performance - State government jobs were a significant driver of job growth, contrasting with weaker private sector job growth [3] - The healthcare sector, including residential care facilities and nursing homes, consistently drives employment [6] - Federal government jobs decreased by 7,000, totaling 69,000 cuts so far [5] - Mining, quarrying, manufacturing, and wholesale trade experienced little change, aligning with expectations given trade policy uncertainty [7] Monetary Policy & Consumer Behavior - The possibility of a Federal Reserve rate cut next month decreased from 25% to approximately 2%, suggesting a relatively strong economy [8] - Wage growth was slightly below expectations at 0.2% compared to the expected 0.3% [10] - There's a bifurcation in the labor market, with employed individuals experiencing decent wage growth, while recently unemployed or graduated individuals face some weakness [12] - Consumers are saving more, potentially slowing down spending and economic activity [13][14]

The May non-farm payrolls report was stronger than expected, but it still reinforced the idea that the employment landscape is losing momentum. While the headline data was stronger than expected, it was still lower than last month's figure, which was revised even lower. Combined with the strong wage growth figure and a lower labor force participation rate, this data could signal that employers are pulling back on hiring in response to tighter financial conditions, but also incentivizing their current labor ...

Core Insights - Visa's CFO, Chris Suh, discussed the current spending environment, highlighting consumer sentiment and economic indicators [3][4]. Group 1: Economic Indicators - Employment numbers are reported to be strong, with stable wage growth contributing to a resilient consumer base [4]. - Inflation has moderated, which has positively impacted consumer spending behavior [4]. Group 2: Spending Trends - There is an observed uncertainty in consumer sentiment, which is reflected in the overall spending trends both domestically and in cross-border transactions [3]. - Despite the noise in the economic environment, Visa relies on factual data to assess the situation [3].