Looking at this and the inflation numbers, thinking about the schmoes who were insisting that the horrible consumer confidence levels a couple of weeks ago were inexplicable because everything was really good.
Gee. Almost like consumers were reacting, when polled, to what they were experiencing.
The Questionable Authority
Looking at change rates in wages versus consumer prices 3-month annualized, in the most recent data...
Wages (red) up at a 2.8% rate and prices up at 8.2% rate (blue). So real hourly wages falling at abt 5.4% annualized rate.
If continues, average hour'll buy 5.4% less than a year before
