CNBC: “The Labor Department reported Friday that average hourly earnings increased 0.4% in October, about in line with estimates. That was the good news.”
“However, the department reported Wednesday that top-line inflation for the month increased 0.9%, far more than what had been expected. That was the bad news – very bad news, in fact.”
“That’s because it meant that all told, real average hourly earnings when accounting for inflation, actually decreased 0.5% for the month.”
For members: The White House Was Warned on Inflation
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