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Tuesday, July 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Wage Cut for Average Joe

(CN) - As Wall Street heralds a return to million-dollar bonuses, the working man suffered the insult of a drop in average wages added to the injury of a 10% unemployment rate. The U.S. Bureau of Labor Statistics says average hourly earnings fell 0.5 percent from October to November 2009.

The drop is tied to a 0.5 percent increase in consumer prices in urban areas.Over the year, the year real average hourly earnings decreased 0.1 percent.

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