That Lead Story on Declining Wages? Never Mind

"The closer we get to elections, the worse economic reporting becomes."

For Thursday's paper, economics reporter Leonhardt looks at revised GDP
figures and concedes "new evidence of a surge in wage-and-salary income in
the first half of this year," with pay up "at an annual pace around 7
percent after adjusting for inflation."

Of course, while the bad-news Neo-Liberal propaganda on wages led Monday's
paper, Thursday's good news led...the paper's business section.

http://www.timeswatch.org/articles/2006/20060831135239.aspx

72 Hours after Mourning Death of Wage Growth, Times Notes Wages Up with GDP
Growth

New data show wage growth at 7 percent after inflation factored out.

http://www.businessandmedia.org/articles/2006/20060831113629.aspx

7 percent AFTER PRICE INFLATION! WOW! THAT IS PHENOMINAL!!
No wonder the Fed has been raising the interest rates, what, 12, 13, 14
times in a row? - D'UH!

Economists speak out on this issue and the NY Times' reporting:

"Statistical Politics"
http://www.townhall.com/columnists/AlanReynolds/2006/08/31/statistical_politics

"Catering to Ignorance"
http://cafehayek.typepad.com/hayek/2006/08/catering_to_ign.html




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