Tuesday, January 31, 2006

Trouble for the Average Joe

From CNN.com, “For the 24-month period through the second quarter of 2005, the inflation-adjusted wages of an average American grew just 1 percent or so, according to statistics reported by the Bureau of Labor Statistics (BLS).

The BLS data is derived from summaries of employment and total pay of workers covered by state and federal unemployment insurance legislation. The data has not been adjusted for changes that employers later reported to the BLS.”

Now, here is the data from their chart for the counties in GA they reported on.

You're going to have to click on the image to see it more clearly, but all that red, it's not a good thing. That means that, adjusted for inflation, the average wage actually has fallen.

I fear the middle class will be almost gone before I retire.



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