ADP payroll numbers out this morning. Nearly a half million new hires. Wages up 6.4%. What's a pessimist to do?

https://www.prnewswire.com/news-rel...une-annual-pay-was-up-6-4-301871086.html

Change in U.S. Private Employment: 497,000

Change by Industry Sector

- Goods-producing: 124,000

Natural resources/mining 69,000
Construction 97,000
Manufacturing -42,000

- Service-providing: 373,000

Trade/transportation/utilities 90,000
Information -30,000
Financial activities -16,000
Professional/business services -5,000
Education/health services 74,000
Leisure/hospitality 232,000
Other services 28,000

Sic Semper Tyrannis