Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (7331)	6/1/2004 12:04:01 PM
From: Kenneth E. Phillipps	Read Replies (4) \| Respond to of 116555

`Wage Recession' Moreover, while U.S. corporate profits jumped 32 percent in the 12 months ended in March, the biggest increase since 1984, according to Commerce Department figures, average hourly pay of production workers rose 2.2 percent in the year through April, the slowest pace for that period since 1987. After accounting for inflation, the gain was 0.5 percent, according to the Bureau of Labor Statistics. The slow income growth amounts to a ``wage recession'' that makes the rise in GDP irrelevant to many voters, Mark Mellman, a pollster for the Kerry campaign, said in an interview. ``GDP is an abstraction,'' he said. ``People can't eat the GDP, they can't use it to buy medicine, they can't educate their kids with the GDP.'' quote.bloomberg.com