U.S. wage trend indicator lowest since 1993

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38062.3650810185-812988703&siteID=mktw&scid=0&doctype=806&

WASHINGTON (CBS.MW) -- Wage increases at private firms will likely average about 3 percent through the end of the year, according to the Bureau of National Affairs' quarterly wage trend indicator released Tuesday.

<snip>

The index is at its lowest level since 1993. "The U.S. economy is stuck in a period of tepid job growth that has dampened wage pressures in private industry," BNA said. "The labor market is about as weak now as it was in 1993, and the rate of annual wage increases is about the same as it was 11 years ago," Popkin said.

[AP]

1. Which means profits for companies benefitting from cheap labor up.

And remember, corporate income is barely taxed, yet we tax the hell out of eanred income, so tax revenues will be way down.

Which means the government will be able to do much less to gurantee level playing fields and equality of opportunity.

Which means entrenchment of the oligopoly is up, while middle class opportunity is down.

Which all means, likelihood of second great depression is way way up.

[llmart]

2. That means my husband and I

aren't even keeping up with the averages because he hasn't even gotten a raise of 3%, or any raise for close to 3 years now. But the large corporation he works for just feels "he's lucky we didn't lay him off like we did tens of thousands of others".

[onehandle]

4. My large corporation too...

Assuming it's not the same company.

We're "lucky" because we're not "Lucky Ducks"?

Bastards.

[snippy]

3. This illustrates that the Bushshit about the millions of people

who have become self employed is just another lie. If those pepople were working, the result would be an increasing shortage in the labor market putting upward pressure on wages and salaries.

Nothing is more republican than cheap labor.

[reprobate]

5. And so the slide continues.

The slide into third world status. The problem is that it's happening all over the globe, not just here.