Editor's Note: The excerpt and chart below are from today's Morning Newsletter written by Hedgeye U.S. Macro Analyst Christian Drake. Click here for more info and to subscribe.
...Further, a number of the sub-indices such as Hiring and Compensation Plans have served as solid lead indicators for the corresponding official figures reported by BLS. For instance, as the 2nd Chart of the Day below illustrates, Small Business Compensation Plans have presaged actual compensation increases pretty well – typically leading growth in reported hourly earnings by ~3 quarters....
