'Mainstream media coverage is so awful. The coverage makes it sound as if the economy is bounding ahead, when in fact we’re in the first stages of a major slowdown.'
This morning, the Labor Department's Bureau of Labor Statistics reported on jobs and wages for September. I have to chime in on this because the mainstream media coverage is so awful. The coverage makes it sound as if the economy is bounding ahead, when in fact we're in the first stages of a major slowdown.
Big corporations continue to use inflation as a cover to raise their prices and increase their profit margins. The most important takeaway is that workers continued to become poorer in September, as average hourly earnings again failed to keep up with increases in the costs of living. Hourly earnings climbed 5 percent from a year earlier, while prices rose 6.3 percent.You'd think this would lessen the likelihood of another Fed interest-rate hike – which makes it more costly for consumers to borrow, reducing their purchasing power even further.
"Continued strong wage increases will likely put further upward pressure on service price inflation," Lisa D. Cook, a Fed governor,
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Increased Bitcoin Volatility as US Jobs Data Exceeds ExpectationsBitcoin's price dropped by almost $1,000 in response to the latest US job reports.
Weiterlesen »
Cramer's Week Ahead: ‘I Am Urging You Not to Be a Hero' While the Fed Battles InflationStocks tumbled on Friday after the September jobs report signaled that the job market is strengthening.
Weiterlesen »
Fashion Saved $38M in 2021 With These Greener Supply Chain Programs, Per Aii ReportSustainable fashion’s NGOs are celebrating recent gains while gearing up for upcoming events.
Weiterlesen »
Kanye West addresses 'White Lives Matter' t-shirt flap, why he's pro-life and more on 'Tucker Carlson Tonight'Rapper Kanye West sits down with Tucker Carlson to discuss his prolife views, why he wore a White Lives Matter shirt and why today's media is godless.
Weiterlesen »
Latinos continue to be invisible in Hollywood and the media, a new report findsDespite making up nearly 19 percent of the population, Latinos continue to be underrepresented or misrepresented in Hollywood, news and book publishing, according to a new report released by the Government Accountability Office.
Weiterlesen »