Latest Price/wage spiral Stories
In a recession marked by massive layoffs, U.S. wage growth and purchasing power appears to have increased, government data shows. Most companies decided the way to deal with the recession was to cut workers, rather than cut wages, The New York Times said Wednesday. In addition, the recession has been marked by a lack of inflation. The government reports prices are down 2 percent from a year ago. Declines in weekly pay for the first half of the recession, meanwhile, were largely attributed to...
By Carter Dougherty Lufthansa and its main union on Friday ended a five-day strike that disrupted air traffic in Germany and highlighted the pressure for higher wages in Europe amid lofty energy and food prices. Lufthansa, the largest European airline after Air France-KLM, agreed to an immediate 5.1 percent pay increase for its 34,000 ground staff, retroactive to July 1, and another increase of 2.3 percent on July 1, 2009. Employees will also get a one-time payment, part of which will be...
WASHINGTON (Reuters) - A White House economic adviser said on Thursday that higher energy costs were a key factor restraining the real earnings of U.S. workers but predicted wages would soon pick up. The Bush administration has touted strength in gross domestic product and jobs-growth figures as evidence that its tax-cutting policies are working. But critics have countered that many Americans are not feeling more prosperous because their incomes are flat on an inflation-adjusted...
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