Saturday, December 8, 2012

Falling behind

Over the past 12 months, average hourly earnings have risen by 1.7%. Unfortunately, inflation — as measured by the consumer price index — has risen by 2.2% over the past year, meaning average hourly earnings have fallen by 0.5% in real terms.

This will cause far more damage than the "fiscal cliff". What's worse is that most people have no idea this is happening to them ... yet.

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