The not-so-good news:
The purchasing power of weekly wages fell -0.2% in July, -0.5% down yr/yr and down -0.9% from July 2002. Real wages for service providing workers are -0.7% below July 2002 levels and manufacturing workers' wages are -0.9% lower than in July 1999. These wage data cover 81% of the private sector workforce.
Peak manufacturing wages spiked in 1979 and have fallen off since.
The Census reports that real median household incomes fell again in 2004 for the fifth consecutive year. Purchasing power of incomes also fell for full-time wage-earners. (Same source URL)
Those who have not read Sun-Tzu continue to whistle past this little graveyard.
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