Real U.S. Wages Drop

The American employee continued to lose ground in the last quarter, with wages dropping 1.2% as a result of consumer prices that shot up 5%, according to figures released Friday by the Bureau of Labor. Manufacturing output dropped 3.5% and total work hours dropped 2% in further signs of an economic slowdown. In durable goods, productivity fell 3.5% the biggest drop in nearly eight years.

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