Posted on 07/31/2018 5:12:06 PM PDT by ATOMIC_PUNK
Cost of labor rose at a 2.8% yearly rate as firms boost benefits
The numbers: American workers are finally reaping the benefits of the lowest unemployment rate and best jobs market in decades: Wages and benefits are rising at the fastest pace in a decade.
The employment cost index rose 0.6% in the second quarter, a tick below the MarketWatch estimate of 0.7%.
More important, the cost of worker compensation in the form of pay and benefits edged up to 2.8% to mark the biggest yearly gain since mid-2008.
In other words, workers are making out better.
What happened: Wages some 70% of employment costs rose a sturdy 0.5% in the second quarter, the government said Tuesday.
The big increase was in benefits: They jumped 0.9% to mark the largest advance in four years.
(Excerpt) Read more at marketwatch.com ...
Crumbs, I tell you. CRUMBS!!!!
Thank you Mr. Obama! ~Maxine Waters
LOL, yes this is just Nancy Pelosi crumbs. Nothing to get excited about.
The DNC want their crumbs back.
Well, there goes another Leftist talking point. Dan Bongino (who has a degree in economics) accurately predicted that when the GDP went up and unemployment went down, that the media would attack the stagnant wages, because wages are a lagging indicator of economic changes.
He was right, they did, and now wage stagnation is not an issue. What will they attack on next????
Democrats Outraged.
Hey kid, do you remember when you asked me the definition of cognitive dissonance?
This pretty blows up Krugman’s critique of the GDP numbers ...
It’s only because people are working 2, 3, 4 and sometimes 5 jobs!
There.
Fixed
Well, that explains why people are working 2 and 3 jobs for 60 to 80 hours per week. Wages are high and they are hauling in more dough. Thanks to Occasional Kotex for her economic insights into this.
The fact that people have to hold down 2 or 3 jobs and work 60 to 80 hours per week to put thin gruel on the table and own more than one pair of socks.
LOL, Alexandria Occasional-Cortex already did attack that (as you know!)
Winning!
Hard for me to judge as I’ve been retired for 5 yrs. now. Wages where I worked were going nowhere when I was working,but those were the Obama days. Soc.Sec. raises are pretty much a joke,as they jack up Medicare to compensate & we see higher prices just like everyone else. So,I would have to say,that for many of us retired without a huge savings or pension,that the new economy is doing nothing for us. Any interest on a meager savings is an absolute joke,with interest rates as they are. We’re not usually in a position to borrow any money,so the lower interest rates there is no help either.
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