Coincident index suggests acceleration.
Determine 1: Wisconsin Nonfarm Payroll Employment (darkish blue), Philadelphia Fed early benchmark measure of NFP (pink), Civilian Employment (tan), actual wages and salaries, deflated by nationwide chained CPI (sky blue), GDP (purple), coincident index (inexperienced), all in logs 2021M11=0. Supply: BLS, BEA, Philadelphia Fed [1], [2], and writer’s calculations.
