As a result of a rising CPI real hourly earnings are down 0.1% for the month.
Coupled with shrinking work hours, real weekly earnings declined 0.4% for the month.
Hooray!
Please consider the BLS Report on Real Earnings.
All Employees
Real average hourly earnings for all employees decreased 0.1 percent from July to August, seasonally
adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a 0.1-percent
increase in average hourly earnings being more than offset by a 0.2-percent increase in the Consumer
Price Index for All Urban Consumers (CPI-U).Real average weekly earnings decreased 0.4 percent over the month due to the decrease in real average
hourly earnings combined with a 0.3-percent decrease in the average workweek.Real average hourly earnings increased 1.3 percent, seasonally adjusted, from August 2015 to August
2016. This increase in real average hourly earnings combined with a 0.9-percent decrease in the average
workweek resulted in a 0.4-percent increase in real average weekly earnings over this period.Production and Nonsupervisory Employees
Real average hourly earnings for production and nonsupervisory employees were unchanged from July
to August, seasonally adjusted. This result stems from a 0.2-percent increase in average hourly earnings
being offset by a 0.2-percent increase in the Consumer Price Index for Urban Wage Earners and Clerical
Workers (CPI-W).Real average weekly earnings decreased 0.3 percent over the month resulting from no change in real
average hourly earnings combined with a 0.3-percent decrease in average weekly hours.From August 2015 to August 2016, real average hourly earnings increased 1.8 percent, seasonally
adjusted. The increase in real average hourly earnings combined with a 0.3-percent decrease in the
average workweek resulted in a 1.5-percent increase in real average weekly earnings over this period.
Prices Up, Wages Down
The bottom line is prices are up and wages are down. This event comes with a big “hip, hip, hooray” for a rising CPI in a separate report from the BLS this morning.
For details on the CPI “good news” please consider Good News For Inflationists: Medical Costs and Rent Surge; Mini-Stagflation Coming Up?
Mike “Mish” Shedlock
What is that in lakh?
http://www.thehindu.com/news/international/us-received-over-2-lakh-h1b-visa-applications-completes-lottery/article8470650.ece
Sorry to burst your bubble, but, nobody cares … except for all those who don’t matter.
Inflation is either a need to debase currency so that long term debt is affordable to repay or an intellectual goofball-ism that some intellectuals believe is a need as strong as food, water, and shelter. The former is perpetuating a fraud. The latter are idiots. Both are in charge.
http://www.zerohedge.com/news/2016-09-16/nassim-taleb-exposes-worlds-intellectual-yet-idiot-class
Just browsed over to ZH. Apparently a contributor there is on the same page as me, but said it better. He nailed it.
This reminds me of what happened agter MLK’s assassination. Jesse Jackson took over and you know the resy.
“Inflation is either a need to debase currency”
It is a fiat world. $US is based on nothing. Strength of currency set by market forces.
Japan sets the standard for “crazy stuff” … and still no inflation … after decades of trying.
Japan is still sliding down the backslope of an enormous, inflationary bubble that finally burst almost 3 decades ago. Prices over there are still way higher than they were before that bubble started. Ditto for virtually every other country, if you start the count from the only proper starting point, which is when their currency last had a solid anchor to gold. Compare the price of a house in Tokyo in 1931 to today, and deflation isn’t what comes most immediately to mind..
“The bottom line is prices are up and wages are down.”
There are clues … and then there are CLUES … that deflation on tap.
YESTERDAY I WATCHED ON CNBC MONSIEUR DONALD TRUMP SPEAKING IN NEW YORK IN FRONT OF BUSINESSMEN IT WAS AWESOME WHETHER U LIKE HIM OR NOT HIS SPEECH WAS CLEAR FRANKLY AND HERE IS WHAT A LITTLE FRENCHMAN LIKE ME UNDERSTOOD
AMERICA FIRST YES US POLICY MUST PUT AMERICAN CITIZEN FIRST HELP THE MIDDLE CLASSES WITH TAX CUTS ESPECIALLY THE UNEMPLOYED CUT THE TAX RATE
IE THERE WILL BE 3 BRACKETS INSTEAD OF 7
HE WANTS TO BE PRESIDENT OF THE USA NOT OF THE WORLD
I RECOGNIZED JOHN PAULSON FAMOUS HEDGE FUND MANAGER I HAD SEEN HIM IN MARKETFOLLY AND INSIDERMONKEY THESE ARE SITES EXPLAINING US RETAIL INVESTORS HOW SUCCESSFUL BILLIONAIRES MANAGE THEIR MONEY
D TRUMP IS PROBABLY THE NEW RONALD REAGAN
HE WILL REDUCE MILITARY SPENDINGS ABROAD AS COUNTRIES SUCH AS SOUTH KOREA FOR INSTANCE MUST PAY MORE FOR THEIR OWN SECURITY
TRUMP KEPT REPEATING I WILL FIX IT FOR INSTANCE HE WANTS INDUSTRIAL JOBS AND THE US LOST MANY THOSE PREVIOUS YEARS TO COME BACK HOME
EXAMPLE FORD CARS BEING BUILT IN MEXICO INSTEAD OF FLYNT OR SOTHING LIKE THAT
HE WILL PUT AMERICAN WORKERS FIRST ESPECIALLY HE SAID THE MINERS AND STEEL
WHAT ELSE ?
TRUMP WILL RENEGOCIATE ALL TRADE AGREEMENTS COMMERCIAL TREATIES ETC … ESPECIALLY WITH CHINA BECAUSE THEY ARE MANIPULATING THEIR CURRENCY / I QUOTE
TRUMP WILL REDUCE TRILLIONS OF DEBT PUBLIC DEBT WAS ACCUMULATED WHICH IS BAD FOR THE ECONOMY
HE BELIEVES THE FED WON T HIKE INTERES RATES BEFORE NEXT YEAR AS PRESIDENT OBAMA LIKES TO PLAY GOLF AND CITIZENS COULD SEE ECONOMY IS NOT IN GOOD HEALTH
WE LL SEE NEXT WHAT IS HILLARY S PROJECT AND I WOULD ENJOY TO WATCH A TV DEBATE BETWEEN BOTH CANDIDATES
Bonjour Stéphane,
Nous vous remercions de vos commentaires sur le blog de mishgea. Dans vos futurs commentaires, s’il vous plaît ne pas utiliser toutes les lettres majuscules dans votre commentaire, car il est considéré comme crier, ne pas discuter.
Merci encore pour votre intérêt.
-g
Are you feeling stimulated yet?
The Intellectual Yet Idiot (IYI)
Nassim Nicholas Taleb
16 Sep 2016
https://medium.com/@nntaleb/the-intellectual-yet-idiot-13211e2d0577#.h1nbaepk9
A graphical example:
http://static4.businessinsider.com/image/56cd9d646e97c61d008b9408-800-600/screen%20shot%202016-02-24%20at%207.05.40%20am.png
Divers weights and measures are evil. Printing is just a scam for bankers to take things from the people, especially their elders.