Monday, February 06, 2006 | 02:00 PM

As the 5 year chart below reveals, there has been no wage pressure in the economy over the past 5 years. The most recent drop and snap back late in 2005 is attributed to Hurricanes “Katrita” (So too the revised Nov/Dec payroll data). 


AVERAGE HOURLY EARNINGS, (constant 1982 dollars) 


Source: BLS

Labor Arbitrage via globalization and outsourcing has put a lid on the growth of wages and personal income across all industries. Union negotiations across numerous sectors (Aircraft Pilots, Auto Workers, Teachers, Police and Fire) have resulted in either flat or minimal increases – in many cases below the inflation level. Job creation continues to be primarily in lower paying positions: food service, health care, and retail (higher paying construction jobs being the exception).


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Monday, February 06, 2006 | 02:00 PM | Permalink | Comments (7) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Carl is one of the best. so check this out.

Posted by: Ned | Feb 6, 2006 2:17:55 PM

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