Monday, November 20, 2006

Rising Wages

American paychecks are rising again at a pace not seen since the 1990s. The pay increase amounts to 4 percent on average over the past 12 months...Four percent may not sound like much, but you have to look back to 1997 to find a calendar year with a gain that big.

Equally significant, 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 though the economy has been expanding over the past five years....

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