Under Obama Wages Dip 1.6%… Biggest Decline Since 1990
Do you suppose we’d be hearing more about this if George W. Bush was sitting in the White House?
Wages dropped last year by 1.6%, the biggest decline since 1990.
FOX News reported:
A separate report showed inflation-adjusted weekly wages for the 12 months ending in December were down 1.6 percent, the biggest decline since 1990. Slack wages and scarce job creation have slowed consumer spending, hindering the economy’s ability to mount a strong recovery.
However, not everyone is suffering.
USA Today is reporting that the number of federal workers making salaries of $100,000 or more jumped from 14% to 19% of civil servants during the recession’s first 18 months — and that’s doesn’t include overtime pay and bonuses are counted…
…The trend to six-figure salaries is occurring throughout the federal government, in agencies big and small, high-tech and low-tech. The primary cause: substantial pay raises and new salary rules. The growth in six-figure salaries has pushed the average federal worker’s pay to $71,206, compared with $40,331 in the private sector.