Skip to comments.Labor Days Blues: Employee Compensation Falls In July As Labor Day Weekend Begins
Posted on 08/30/2013 7:57:59 AM PDT by whitedog57
As we enter the Labor Day weekend when we are supposed to be celebrating hard-working Americans, we get the monthly personal income and spending numbers from the Bureau of Economic Analysis (BEA). Personal income rose .. 0.1% in July.
compensation of employees, the core component of personal income, fell by $21.9 billion, the was the biggest monthly slide decline since May 2012.
Another view of declining employee compensation.
And my favorite chart of declining real household income:
Chicago Purchasing Managers Index printed at 53.0 in August, up from 52.3 in July. But there was a decline in employment from 56.6 to 54.9, a 4 month low.
Things are getting so bad that I put my German Shepherd to work as a draft horse.
The Obama recovery continues! /sarc
Is this also known as the Chicagoization and Detroitification of America, or is that a separate socio-economic trend?
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