Not Since the 90s: Wages See Good, Good Growth

By August 30, 2007Economy


American workers received the broadest gain in wages since 2000 during the past 12 months, according to National Association of Manufacturers’ Annual Labor Day Report.

The report, released Tuesday, said that 95 million working Americans, or 82 percent of the workforce, received real wage gains.

“This marks the broadest gain in real wages since 2000 when 95 percent of the workforce experienced real wage gains,” said NAM Chief Economist David Huether.

As Huether notes in the NAM Labor Day report (available at the NAM’s Labor Day Report page), “[It] was not until the unemployment rate moderated over a similar four-year period (1992-1996) that real wage growth began to take place during the expansion in the 1990s.”

So the best economic news in a decade, despite housing? We return to the topic in light of today’s news, bannered at the Drudge Report. From the AP’s economics writer this morning:

WASHINGTON (AP) — The economy grew at its strongest pace in more than a year during the spring as solid improvements in international trade and business investment helped offset weakness in housing.

The gross domestic product, the broadest measure of economic health, expanded at an annual rate of 4 percent in the April-June quarter, significantly higher than the 3.4 percent rate the government had initially estimated a month ago, the Commerce Department reported Thursday.

Just a little balance to the news’ tendency to find the economy’s dark clouds always building, threatening, looming.

Leave a Reply