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July 18, 2004
Is Our Wages Growing?
...as the president might ask. Nope, they're not. This EPI economic snapshot points out that real hourly and weekly earnings not only fell last month, but they have now fallen in six out of the last seven months. All the basic data on these trends can be found in this nifty new release from Bureau of Labor Statistics on "Real Earnings in June 2004". And there is a substantial article on the real wage decline problem in today's New York Times. The trend that dared not speak its name is starting to be heard.
Note that the 1.1 percent drop in real hourly earnings in June is actually the largest drop in hourly earnings since mid-1991, when Bush's father was at the nation's helm.
I think I'm starting to detect a pattern here......
Posted by Ruy Teixeira at 12:35 AM | link
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