Friday's miserable jobs report was written off as an anomaly: It was the weather. It wasn't consistent with other much stronger data over the past few months. It was so terrible that no one believed it to be true. I never understood this obvious hindsight conclusion. If it was so obvious, then why wasn't it reflected in economists' estimates? What can't be denied is the growth rate in average hourly earnings. The December 2013 1.8% YoY growth rate decelerated from the November rate of 2.0% and was barely above the recovery trough growth rate of 1.6%. This is the most important of the employment metrics. Wage growth ... (full story)