Tuesday, July 03, 2012

Wages drop, only 5th time in 33 years

The damndess recovery I've ever seen.
Unemployment ebbs and flows, but one measure of the nation's economic health, average weekly wages, rarely dips.
Until now. In the latest demonstration of the struggling economy that threatens President Obama's reelection, average weekly wages fell in 2011, one of only five declines since the category was created in 1978 by the Bureau of Labor Statistics.

In a just-released review of employment in the nation's largest 322 counties, BLS found that weekly wages dropped over the year by 1.7 percent to $955 in the fourth quarter of 2011 from a high of $971 in the fourth quarter of 2010.

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