Real wages in the US are falling at their fastest rate in 14 years, according to data surveyed by the Financial Times by the Economic Policy Institute.
Inflation rose 3.1 per cent in the year to March but salaries climbed just 2.4 per cent, according to the Employment Cost Index. In the final three months of 2004, real wages fell by 0.9 per cent.
The last time salaries fell this steeply was at the start of 1991, when real wages declined by 1.1 per cent
I'm sure that the president's failed policies, (tax cuts, illegal immigration, free trade) have had no impact on our stagnant wages.
*vote bush*
1 comment:
Well done! We'll add US and (why not?) global economics to our list.
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