And when George lies about the economy tonight...
...keep this in mind. (I wonder why Elaine Chao let this get released today? Won't it take some shine off her Emperor's speech?)
Oh wait, the article goes on to declare that rising wages are (gasp) a threat to our "strong" economy.
I am not an economist, but, haven't we just barely regained the 3 million jobs that were lost in the first years of King George's reign? "Strong growth in the labor market?" Huh? Yeah, if you like working retail, restaurants and emptying bed pans, I suppose you could say that.
And the answer is to keep down wage growth? Why? We can barely afford our gas. Don't they want us to be able to be "consumers?" Oh wait, I forgot. They want us in permanent serfdom. Struggling so much to get by that we are too tired to pay attention at how they are raping this country. Submit To Propeller
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Wages and benefits paid to civilian workers rose last year by the smallest amount in nine years, the government reported Tuesday.
The Labor Department said that employee compensation was up 3.1 percent in 2005, an increase that was slower than the 3.7 percent rise in 2004. The slowdown reflected a big drop in benefit costs -- items such as health insurance and pensions -- which rose by 4.5 percent last year after jumping by 6.9 percent in 2004.
The new Employment Compensation Index should ease concerns at the Federal Reserve that improving labor markets could be starting to push up wage pressures. Wages and salaries rose by 2.6 percent last year, only slightly higher than a 2.4 percent increase in 2004.
The 3.1 percent increase in total compensation for the 12 months ending in December was the smallest annual increase since a 2.9 percent rise in 1996.
Last year's increase was not enough to keep up with inflation. When inflation is considered, overall compensation fell by 0.3 percent, the first time there has been a decline since 1996, when total compensation after adjusting for inflation was down by 0.4 percent.
Oh wait, the article goes on to declare that rising wages are (gasp) a threat to our "strong" economy.
The Federal Reserve is keeping a close watch on wage pressures given the strong growth in the labor market in the past two years. While increases in the number of people working is good for the country, the concern at the Fed is that the economy could be growing so strongly that wage pressures will mount and trigger a rise in inflation.
I am not an economist, but, haven't we just barely regained the 3 million jobs that were lost in the first years of King George's reign? "Strong growth in the labor market?" Huh? Yeah, if you like working retail, restaurants and emptying bed pans, I suppose you could say that.
And the answer is to keep down wage growth? Why? We can barely afford our gas. Don't they want us to be able to be "consumers?" Oh wait, I forgot. They want us in permanent serfdom. Struggling so much to get by that we are too tired to pay attention at how they are raping this country. Submit To Propeller
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posted by cls at
1/31/2006
