Wednesday, April 29, 2009

Deflation Alert: Wages Show Biggest Drop Since 1950's



Source: BEA

Posted by Jake at 11:24 AM
Labels:

3 comments:

  1. Angry SaverApril 29, 2009 at 12:57 PM

    The income picture is much worse when you look at the distribution.

    Great charts! I enjoy the blog.

    ReplyDelete
  2. AnonymousApril 29, 2009 at 3:25 PM

    Ya, but with the current wage drop, we are no way near (not even close, more like wide margin) low enough to compete with China or other manufacturing country.... so what we going to do? Is america ready for $0.20 per hour? American are doomed, they are being protected and pamper for too long...

    ReplyDelete
  3. JakeApril 29, 2009 at 7:01 PM

    the productivity of U.S. workers is substantially higher than chinese, so not nearly that bearish... however, if unions become less powerful (they are thus far in this crisis) and workers demands less in terms of wages (they have), then it doesn't bode well for future consumption that is based on spending what has been earned vs. what can be put on credit

    ReplyDelete

Subscribe to: Post Comments (Atom)