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Average hourly wages fell 0.1 percent in July


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LPH submitted a new blog post:

Average hourly wages fell 0.1 percent in July

The U.S. economy continues to lag. While Ben Bernanke is on the record that the Fed will keep interest rates at zero until the Unemployment figure is below 6.5 - however - this must be kept within context because the number of dropouts from participating in the labor force has been decreasing.

Despite this bad news - worse is the average hourly wages fell in July. The overall rate for the year is 1.9% - below the rate of inflation.

"Really we have become a nation of hamburger flippers,...
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