Incomes Are Rising — Who Knew?

By November 21, 2006General

Here’s a story that somehow escaped most of the mainstream media. We just searched the WaPo site, nary a peep. But thanks to Mark Trumbull of the Christian Science Monitor, there’s this story entitled, “A Brisk Rise in American Wages,” with the sub-head, “Pay rose faster than the cost of living for the first time in years.” Indeed it did.

The article notes that weekly wages adjusted for inflation have grown at the the fastest rate this year since 1997. “Equally significant,” Trumbull notes, “Tamer energy prices mean that the ‘real’ wage gains, after inflation, are above 3 percent for the past 12 months. That, too, hasn’t happened since the 1990s.” Even the usually gloomy Economic Policy Institute is quoted as saying, “Expect wages to maintain a decent clip at least through the first half” of 2007,” Wow.

See? This is why you need blogs — to get you the unvarnished news, the news the MSM is afraid to print. Can’t have too much good news out there, after all, bad for business.