NewsFlash: May 14, 2008
Workers’ earnings squeeze continues
The Consumer Price Index for April, released today, adds a crucial piece to the puzzle of what’s been happening to workers’ paychecks.
EPI Senior Economist Jared Bernstein maps the forces at work behind today’s falling real hourly and weekly earnings in the context of today’s news. He concludes: “Workers’ wages are thus facing two pressures in the current job market: hourly and weekly wage growth that is not keeping up with inflation and diminishing weekly work hours.”
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