Slack Demand => Unemployment

The truth is always in the price. If there was not massive slack in the jobs market. then we wouldn't be seemg the trend In average hourly earnings down to a record low of 1.5% from 2% a year ago. To put this in perspective. at no time in the December 2007-lune 2009 Great Recession did this trend ever break below 3%. It is now half that pace, for an economy that allegedly just finished the third year of economic recovery
---Rosenberg today