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Posted by: Michael Mandel on August 16
Despite today’s cheerier inflation number, real wages are still falling. The BLS reports that real hourly earnings are down by about a half percentage point since February.
This is not good. And blaming it solely on oil prices doesn’t help, because it looks like the increase in oil prices is going to stick.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.