Tuesday, May 10, 2005

Real wages fall at fastest rate in 14 years

Real wages fall at fastest rate in 14 years

In the age of rising productivity, shouldn't wages be rising as well? Instead, the wealth is concentrating. From the article:
    Real wages in the US are falling at their fastest rate in 14 years, according to data surveyed by the Financial Times.

    Inflation rose 3.1 per cent in the year to March but salaries climbed just 2.4 per cent, according to the Employment Cost Index. In the final three months of 2004, real wages fell by 0.9 per cent.
See also Welcome to the 60-hour work week.

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