Real wages are falling sharply, pinching Americans' buying power and raising the risks for a fragile economy and President Obama's re-election hopes.
With more than 4 unemployed workers available for every job opening, pressure on wages has been intense.
Inflation-adjusted weekly earnings have fallen significantly in recent months, likely falling more than 1.5% vs. a year earlier in August. That would be the biggest drop since the height of the financial crisis in late 2008.
Real disposable income per capita — seen by some researchers as the most important factor in people's well-being and voting patterns — has leveled off well below pre-recession levels and may be rolling over.
Thursday, September 08, 2011
Obama, the gift that's just keeps giving.
Posted by traderrob at 6:39 AM