Fastest Decline in Real Wages on Record
"Employers' wage costs grew 2.3% over the past year,
the slowest growth rate on record, according to today's report from the Bureau of Labor Statistics. Factoring in the recent energy-driven increase in inflation,
the real wage is down 2.3%, also the largest real loss on record for this series that began in 1981.
For the first time in this employers' costs report, the Bureau of Labor Statistics presented these values adjusted for inflation.
Both wages and compensation are losing growth in real terms, down 2.3% and 1.5%, respectively, as slower nominal wage growth is colliding with faster inflation. In both cases, these are the largest yearly real losses on record".
By Jared Bernstein, an economist at the Economic Policy Institute
CounterPunch
real wages
And how is consumer confidence?
Fastest Decline in Real Wages on Record
"Employers' wage costs grew 2.3% over the past year, the slowest growth rate on record, according to today's report from the Bureau of Labor Statistics. Factoring in the recent energy-driven increase in inflation, the real wage is down 2.3%, also the largest real loss on record for this series that began in 1981.
For the first time in this employers' costs report, the Bureau of Labor Statistics presented these values adjusted for inflation. Both wages and compensation are losing growth in real terms, down 2.3% and 1.5%, respectively, as slower nominal wage growth is colliding with faster inflation. In both cases, these are the largest yearly real losses on record".
By Jared Bernstein, an economist at the Economic Policy Institute
CounterPunch
real wages
And how is consumer confidence?
