S&P 500 Operating Profit Margins

S&P 500 Operating Profit Margins U.S. profit margins have narrowed as corporate prices have become lower than labor costs. Image: BCA Research

U.S. Jobs – U.S. Nonfarm Employment

U.S. Jobs – U.S. Nonfarm Employment Is the labor market running hot? 10 million jobs are still missing in the United States. Image: Financial Times

S&P 500 Total Number of Employees to Total Revenues Ratio

S&P 500 Total Number of Employees to Total Revenues Ratio In 1986, it took 8 employees to generate US$1 million in revenue. Today, the S&P 500 is 70% less labor intensive than it was in the 80s. Image: BofA Global Research

U.S. Nonfarm Employment

U.S. Nonfarm Employment This chart suggests a two-phase labor market recovery in the United States. Image: Oxford Economics

U.S. Job Openings and Unemployment

U.S. Job Openings and Unemployment The U.S. labor market is very tight. There are still more open jobs than unemployed workers. Image: FactSet

U.S. Consumer Confidence and U.S. Unemployment

U.S. Consumer Confidence and U.S. Unemployment A tight U.S. labor market and low interest rates should continue to support U.S. consumer confidence and spending. Image: Goldman Sachs Global Investment Research