Yet at the same time, those people who have jobs are seeing an elevation in their buying power because of lowering inflation. Those with jobs and steady wages benefit in a time of increasing discomfort for millions of others.
Within this contrary movement, the state of our economy is reshaping.
Reuters: New jobless claims surge to 26-year high
"The economy is suffering. Things are getting worse, not better. Everything is weakening at a faster pace than we have ever seen. You don't need to embellish," said Brian Fabbri, North America chief economist at BNP Paribas in New York.
-----------
Diminishing inflation pressures boosted hourly compensation by a 15.6 percent annual rate during the fourth quarter, the largest increase since the series started in 1947.
"That's something that provides some hint of underlying support to the economy. Real income growing may help to stabilize things in a couple of months, a little bit, for the economy," said Commonfund's Strauss.
2 comments:
Isn't nice to know that for those of us without jobs , our sacrifice will make others lives better. Kind of like being killed in action in war. One difference dead men/women don't have bills after their dead , or at least any they need to worry about. You know , I'd like to be happy about this story but I'm not.
I'm not happy about it either and it shows something far far less than equitable about the country. Its like calling a company about a complaint. Press 1 for this or 2 for this. Usually everyone has something that falls outside of the choices. So you have to seriously adapt or you get nothing. That's America. Its not the smartest thing. Its the deep frustrating and painful aspect.
So I agree. This is part of the tragedy. This pisses me off to the point of exasperation.
Post a Comment