Wages Down, Consumers Spend Less, Growth Slows

Filed under: News,The Economy |
Workers make less, spend less.

Workers make less, spend less.

From Bloomberg News: Take-home pay and wages, adjusted for prices, fell 0.3 percent in August, the third decrease in five months, and personal income dropped for the first time in two years, the Commerce Department reported last week. The declines followed news from the Census Bureau that median household income in 2010 fell to $49,445, the lowest in more than a decade, and the poverty rate jumped to 15.1 percent, a 17-year high.

Read the original story.

List your business in the premium web directory for free This website is listed under Human Resources Directory