Sunday, July 18, 2004

It's the Economy, Stupid - Part 3,474

The person who wrote this must have talked to someone where I work. File this under well, duh.

NYT: Hourly Pay in U.S. Not Keeping Pace With Price Rises

...On Friday, the Bureau of Labor Statistics reported that hourly earnings of production workers - nonmanagement workers ranging from nurses and teachers to hamburger flippers and assembly-line workers - fell 1.1 percent in June, after accounting for inflation. The June drop, the steepest decline since the depths of recession in mid-1991, came after a 0.8 percent fall in real hourly earnings in May.

Coming on top of a 12-minute drop in the average workweek, the decline in the hourly rate last month cut deeply into workers' pay. In June, production workers took home $525.84 a week, on average. After accounting for inflation, this is about $8 less than they were pocketing last January, and is the lowest level of weekly pay since October 2001.

I know! More tax cuts for Dubya's "Power Rangers", or whatever the heck they're calling themselves these days. You know, the elite. That'll fix the problem. See how easy Dubya thinks this is?