Wages Are Falling
A week ago, the Bureau of Labor Statistics (BLS) released the third quarter review of average weekly wages [Main Data Here].
Sundance notes:
By now, everyone knows the term “stagflation”, which means a stagnant economy and large inflation (price increases), the easiest comparison is Jimmy Carter economic program in the 1970’s. However, let me assure you what this latest BLS release foretells is not that. This is far more serious than stagflation.
