Skip to comments.Real Wages Fall For 5th Straight Month, Bad News For Obama
Posted on 04/15/2011 6:11:22 AM PDT by Slyscribe
Real earnings fell for a fifth straight month as wages fail to keep up with soaring gasoline prices and other costs. Inflation-adjusted earnings for all private workers dropped 0.5% in March, the worst monthly drop since July 2008, according to Labor Department data. Nominal wages were flat while consumer prices climbed more than 0.5% for a second straight month.
Year over year, inflation-adjusted weekly pay sank 0.4% Thats the first drop in a year and down from a 2.2% gain in October.
Since October, real weekly wages have dropped at a 3.8% annual rate matching the decline set in July 2008, when oil prices peaked above $147 a barrel.
(Excerpt) Read more at blogs.investors.com ...
Well this doesn’t exactly square with the ‘encouraging jobs picture’ the media ballyhooed a week or two ago does it.
Fix the title.
This is GOOD NEWS for Marxist/Communist/Moslem Obama
whose ONLY GOAL is destruction of the American people.
Can someone tell me where to find info on the real rate of inflation?
I believe the rate that the government posts does not include fuel or food.
What is the real rate, considering everything?
Oh, yeah - bad news for Obummer...
and the 42% of people who work in this country...
the rest are happy to sit around, get their check from Obummer’s stash and let everyone else pay...
No. The BLS publishes thousands of CPI indexes each month, including the headline All Items CPI for All Urban Consumers (CPI-U) and the CPI-U for All Items Less Food and Energy. The latter series, widely referred to as the "core" CPI, is closely watched by many economic analysts and policymakers under the belief that food and energy prices are volatile and are subject to price shocks that cannot be damped through monetary policy. However, all consumer goods and services, including food and energy, are represented in the headline CPI.
Most importantly, none of the prominent legislated uses of the CPI excludes food and energy. Social security and federal retirement benefits are updated each year for inflation by the All Items CPI for Urban Wage Earners and Clerical Workers (CPI-W). Individual income tax parameters and Treasury Inflation-Protected Securities (TIPS) returns are based on the All Items CPI-U.
Good news for Free Traders. If lower wages abroad are good, lower wages here must be as well.
Honest to goodness, there is nothing like the scent of Obama Stagflation in the morning. Just like Chanel #5../s
I know we like to think everything the government says is a lie, but in this case, they are fairly upfront about the analysis, and it’s up to you to read and understand the difference between their 0.5% and 0.1% numbers.
Consumer Price Index Summary
Transmission of material in this release is embargoed until
8:30 a.m. (EDT) Friday, April 15, 2011 USDL-11-0513
Consumer Price Index - March 2011
The Consumer Price Index for All Urban Consumers (CPI-U) increased
0.5 percent in March on a seasonally adjusted basis, the U.S. Bureau
of Labor Statistics reported today. Over the last 12 months, the all
items index increased 2.7 percent before seasonal adjustment.
Gasoline and food prices continued to rise and together accounted for
almost three quarters of the seasonally adjusted all items increase
in March. The gasoline index posted its ninth consecutive increase
and has now risen 14.4 percent over the last three months. The
household energy index rose as well, with advances in the fuel oil
and electricity indexes more than offsetting a decline in the index
for natural gas. The food at home index continued to accelerate in
March, rising 1.1 percent as all six major grocery store food groups
The index for all items less food and energy rose 0.1 percent in
March, a smaller increase than in the previous two months. The index
for shelter rose slightly, as did the index for medical care. Several
transportation indexes posted significant increases, including new
vehicles, used cars and trucks, and airline fares. In contrast, the
indexes for apparel and for household furnishings and operations both
declined in March.
The all items index rose 2.7 percent in the last 12 months, the
largest increase since December 2009. The energy index has now risen
15.5 percent over the last 12 months, with the gasoline index up 27.5
percent. The food index has risen 2.9 percent with the food at home
index up 3.6 percent. The index for all items less food and energy
has increased 1.2 percent with the shelter index up 0.9 percent.
He makes up great numbers. Doesn’t do any calculations, but still sells plenty of subscriptions.
CPI, consumer price index, includes food and fuel. Inflation does not, it only looks at ‘core’ products. And alot of people don’t know that the govt plays with the cpi numbers. It is a basket of goods so if say steak gets too expensive they will substitute it with chicken. If ice cream goes up 2 bucks they will replace it with ice milk. So the cpi is actually almost all the lower priced goods.
More like bad news for the citizens and good news for zer0.