Posted on 06/23/2013 8:24:29 AM PDT by lbryce
As Karl Denninger noted with great fury a few weeks ago, this kind of nationwide reduction in average hourly wages is itself equivalent to an increase in unemployment.
We’re entering a deflationary period and this is the first sign.
Obama continues to get everything he hoped for.
unexpectedly...
So just how much economic devastation has to occur in the U.S. economy before you open your eyes to what unrestricted trade causes.
I suppose now you’ll suggest that they should import more to raise the employment numbers. Or maybe you’ll suggest that since total household wealth didn’t fall, that falling wages don’t matter. Wake up!!!
Us boomers are typically better educated, have higher wages, pay more taxes and will be replaced with third world immigrants.
“When prices rise, that is a sign that the economy is strengthening” - Ben Bernanke
OR, it’s a sign that too much liquidity is being pumped into the economy to prop it up.
Summer of recovery #4! Yea!
When I see Shadowstats.com unemployment falling, then I'll believe the economy is recovering. But even that wouldn't necessarily be a good recovery. Real wages are falling, eventually labor supply will equal labor demand again. The question is at what wage.
Osama Obama’s turned us into a nation of the “disabled” and part-timers.
It’s known that being a teacher doesn’t mean you’re smart or even educated. This guy is neither.
Price rises will not stick or even be attempted if real wages are actually dropping.
"...how much economic devastation has to occur in the U.S. economy before you open your eyes..."
Weekends are a great time for hyperventilating --enjoy!
When everyone gets finished running around circles I'd be grateful if someone could tell me where that headline came from. I mean, the post didn't mention wages, the link didn't, and the BLS numbers have--
-- private hourly wages at an all time high.
First people didn't care because it wasn't them. Then they didn't care because cheap foreign goods compensated for declines in wages.
Now most people are in denial, as they adjust their lives to something far different than the original promise and potential of the US.
It’s deferred unemployment in a way. When people have there pay cut, they only buy the necessary things.
Do that to large amount of people and unemployment rises.
Simple really.
Or and Government tax revenues take a big hit.
"Unit labor costs in nonfarm businesses fell 4.3 percent in the first quarter of 2013, the combined effect of a 3.8 percent decrease in hourly compensation and the 0.5 percent increase in productivity. The decline in hourly compensation is the largest in the series, which begins in 1947." - article
Your graph doesn't show a 3.8% quarter to quarter decline so your series is either year to year changes or not what the BLS was referring to.
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