UBS On-Air: Paul Donovan Daily Audio 'Is the US mid-life crisis over?'

UBS On-Air: Market Moves - A podcast by Client Strategy Office

It is US employment report Friday. This is your monthly reminder that average hourly earnings are not wages, and certainly not wage costs. The averaging process makes this data sensitive to changes in the composition of the workforce. The central story of the US labor market today is of a society getting over a collective mid-life crisis.