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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Kirk © who wrote (6280)8/1/1998 8:41:00 AM
From: Alan Whirlwind  Read Replies (3) of 42834
 
Dow down under 8900 again yesterday with an intraday spike below 8850.

Friday July 31st St. Paul Pioneer Press ran an article, back page of the business section, entitled, "Wages rise, heightening inflation fears: Greenspan says gain poses greater threat than Asia."

Interesting points:

1. Total wage compensation increased 3.5% 6/30/97 to 6/30/98--largest gain in 4 1/2 years.

2. The 12 months ended March 30 reflected a 3.3% rise and the 12 months ended January a 2.8% rise, so a pattern of wage growth is in place.

3. Average hourly earnings adjusted for inflation increased more in 1997 than in any year since 1977 and there has been a slight acceleration this year as well.

Summary: wage price inflation is currently in place. --Al
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