Thursday, September 07, 2006

Did they say surging U.S. wages?

This is an item I should have mentioned yesterday but better late then never.

Yesterday the Department of Labor reported that worker compensation for the first quarter of the year was revised up to 13.7% growth rate!!! The second quarter number, which also came out yesterday, showed an increase of 6.6%. For the second number, it needs to be kept in mind that it’s just an initial reading and there is a very good likelihood that that number will also be revised up.

Isn’t it amazing how despite the minimum wage staying the same companies are raising wages on their own? Not really. This is the beautiful thing about capitalism and free markets. Companies don’t need governments to tell them what wages should be offered. Why do Democrats think companies know how to properly price the worth of a secretary and not a cashier at a retail store?

Links to this post:

Create a Link

<< Home