Friday, December 08, 2006

Finally Some Good News...

Wages for average Americans have outstripped inflation for the first time since the late economic boom of the 1990s. The NYTs explains why:
With energy prices now sharply lower than a few months ago and the improving job market forcing employers to offer higher raises, the buying power of American workers is now rising at the fastest rate since the economic boom of the late 1990s.

The average hourly wage for workers below management level — everyone from school bus drivers to stockbrokers — rose 2.8 percent from October 2005 to October of this year, after being adjusted for inflation, according to the Bureau of Labor Statistics. Only a year ago, it was falling by 1.5 percent
The question now is how will the Bush Administration spin this good news to their advantage. Will they claim their ill-advised tax cuts are the reason? We shall see.

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