Think softer, we still the economy is in good shape. Economists would call it a robust economy with growth of 3 plus at least for the last two quarters, despite these rather disappointing employment numbers. I think we are past the crisis. We are still getting a lot of distortions out there, but the underlying economy is strong. Whats worrisome is the decline in unemployment happened for the wrong reasons. We saw a pretty big drop in participation rates. This could be noise related to the hurricanes. The job number is noisy. Still pretty good numbers in there. Down to 4. 1 unemployment. When you look at the u6 number down 1. 5 for the year, we are bringing a lot of people back into the workforce. Wages are accelerating. I think that is important. We dont think wages are going to move beyond levels that economy tremendously high because of automation and technology. But it is real wage acceleration. So it just allows them we think theyre going to go in december, two to three times next
Wages are creeping up, but households still unwilling to spend. Yet more signs that the missing puzzle piece when it comes to the japanese recovery. Remainingics story elusive with this threshold out this morning. Laboroyment, the tight market staying at the lowest in around two decades. Also looking at things like retail sales and consumption lacking. Take a look at this chart. Consumers. Is this the case that so many years of deflationary mindset is shake . Ry difficult to the stubbornness of a reluctance to spend there is. Low unemployment employment. You can see when it comes to spending, living expenditure, it is not going up at all. We are going to delve a little bit more. There is no change to the picture that japans economic recovery lacks that strong driver despite expending for a fifth consecutive quarter. The longest run of gdp expansion in about a decade. Lets take a look at other markets. It is a funny start to the trading week. Large parts of Global Markets closed. The u.
These low clouds were gradually clear back toward the shoreline in the afternoon. Santa rosa 60, San Francisco 54. Looking out toward san rafael we have fog hanging out on portions of the bay. We are waking up to some gray skies but gradually clearing and this is the eventual temperature range with partly cloudy skies for the bayside location. We have areas of fog this morning and gradually moving back to the shoreline. Along the beach is upper 50s near 60s, inland to close to 80. We will take a look at your forecasted highs in a moment. We have an update on the roadways. Good morning. The microphone is not working. He is figuring it out. Here we are. I dont think anyone heard me but we do have some construction work, westbound 580 at the altamont pass. You can see 580 will be slow. We can see the slow traffic already and it will be westbound 580. They also had bro work going eastbound on 580 heading this way so this is unusual back up. If they dont pick up the cones when they are sche
There are spots to the spotsh north and west that could seelde a foot by this time tomorrowto morning. R snowr snowt majo accumulation for parts of ourf r area. This is going to be really key here. Lets get to it. Snow arrives tonight. Mover like 8~or 9 oclock tonight. As far as your commute you a should be fine if youres lde fe coming home at isixf or 7 oclock. 7 ocl watching the rainsnow line line very carefully. Are ill be honest with you here, he we have medium confidence inm ce this forecast because we justcat dont know until later this evening when it actually it acly arrives exactly where that rainsnow line will set up butuu parts of the area the snow t snw totals will be held down by mixing with sleet or possibly pb rain. Highest accumulations northt ac and test. Cu well look at a snow map mp expected accumulations heree coming up. Coming up the whole thing should be outult of here by mid morninge by mid tomorrow. Youll get a chance if you got to hit the ro aads c hanctomorrow
There are spots to the spotsh north and west that could seelde a foot by this time tomorrowto morning. R snowr snowt majo accumulation for parts of ourf r area. This is going to be really key here. Lets get to it. Snow arrives tonight. Mover like 8~or 9 oclock tonight. As far as your commute you a should be fine if youres lde fe coming home at isixf or 7 oclock. 7 ocl watching the rainsnow line line very carefully. Are ill be honest with you here, he we have medium confidence inm ce this forecast because we justcat dont know until later this evening when it actually it acly arrives exactly where that rainsnow line will set up butuu parts of the area the snow t snw totals will be held down by mixing with sleet or possibly pb rain. Highest accumulations northt ac and test. Cu well look at a snow map mp expected accumulations heree coming up. Coming up the whole thing should be outult of here by mid morninge by mid tomorrow. Youll get a chance if you got to hit the ro aads c hanctomorrow