One of the negative features of the current economic recovery has been declining incomes of average Americans.
This trend continued in October.
The Labor Department reported Friday that despite 171,000 jobs being
added to nonfarm payrolls in October, average hourly earnings for such
employees edged down by 1 cent to $23.58.
Average hourly earnings of private-sector production and nonsupervisory employees also dropped by 1 cent to $19.79.
This continues a trend reported by the Census Bureau in August finding
that since the recovery began in June 2009, median household incomes
have fallen 4.8 percent adjusted for inflation.
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