After not playing baseball for 3 years in college because of having a total hip replacement, and then coming back to play professionally once I graduated, and get the opportunity to play on a team like the @wcthunderbolts we had in 2007 and 2008...it was like a dream come true. This was a night I will never forget.
During this period, the average expansion was approximately 58 months, and the average contraction was approximately 11 months. Expansion is the default mode of the U.S. economy, and the average expansion time period has continued to average longer over time.
Analysis of the Indicator: High rates of growth of average hourly earnings (AHE) (wage inflation) would lead to higher inflation if the wage growth is above productivity growth. A related measure of wage cost growth closely watched by the Fed is the Employment Cost Index (ECI).Compared to the ECI that is published only quarterly, the strenght of the average hourly earnings measure it that is published monthly and is an early indicator of wage growth in the previous month.However, compared to the ECI, AHE has several weaknesses. related measure of wage cost growth closely watched by the Fed is the Employment Cost Index (ECI). Compared to the ECI that is published only quarterly, the strenght of the average hourly earnings measure it that is published monthly and is an early indicator of wage growth in the previous month.