Friday, July 16, 2004

Even with inflation being tamed once again, real wages continue to slide.  In June real private sector hourly wages were $8.20 (in 1982 dollars), down 1.4% since November 2003.  This decline in real wages is not only the sharpest of the Bush administration's tenure.  You have to go all the way back to 1990-91 to find a sharper (1.9% in 6 months) plunge.  At least Poppy Bush had an excuse as his was in the midst of a recession.  But Dubya's is in the middle of a "robust recovery"!

1 Comments:

At 1:21 PM, Blogger PGL said...

As you also correctly noted in your comment to Kash over at Angrybear. But as I noted - Cheney and Kudlow will assuredly find some way to spin the number again. Keep up the good work of honest reporting!

 

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