From Bloomberg and via Kevin Drum:
--------
| American workers have rarely taken home a smaller share of the nation's prosperity, a condition that is undermining bipartisan support for free trade and creating friction between President George W. Bush's administration and the Federal Reserve.
After 16 consecutive quarters of economic growth, pay is rising at a slower rate than in any similar expansion since the end of World War II. Companies are paying less of their cash gains in the form of wages and salaries than at any time since the Great Depression, according to government figures. |
Talk about a historic success! Not since the Great Depression have companies been paying less!
--------
0 TrackBacks
Listed below are links to blogs that reference this entry: AN ECONOMIC MILESTONE FOR THE BUSH ADMINISTRATION.
TrackBack URL for this entry: http://blog.alexwhalen.com/cgi-bin/mt/mt-tb.cgi/632
Subscribe to this blog's feed
Leave a comment