Monday, May 10, 2004

Posted here Monday, May 10, 2004 at 4:45:26 PM     Economic reporting is such a mind maze. This from Gas Prices Drivers Tend to Shrug Off High Gas Prices, for Now Neela Banerjee New York Times, May 4, 2004, Page C1  .... In the late nineties, wages were rising by approximately 2 percentage points more than inflation, each year... But note that is aveage wages, which include the faster rising wages at the top and the broadly lowering wages from about (hinting I am not sure where this break point is, and may be higher) 60% down. hence wages were only higher than or equal to inflation for a minority of workers. ********