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Hooray! Your Real Earnings Declined in August

Courtesy of Mish.

The BLS Real Earnings Report for August shows your average earnings decreased 0.3% for the month due to a rise in the CPI coupled with no wage gains.

Those who cheer declining purchasing power (notably Econoday), have even more good news to cheer about. Thanks to a 0.3% decline in the workweek, the average person is effectively taking home 0.6% less in August than July.

What could possibly be better other than even more inflation?

Current and Real Earnings, Private Nonfarm Employees

Production and supervisory workers did even worse.

No Disappointment


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