How the Majority Makes Out in the Economy
How does the economy work for the majority of people? If you want to get information from the major media, you have to be careful and not just look at the most prominently presented figures. Even using a comparatively good source such as the Washington Post, you need to go step by step through their 10/31/18 article " U. S. workers see fastest wage growth in a decade, but inflation takes a toll " The first sentence of the article says that wages rose 2.9% from September 2017 to September 2018. The second sentence says that is the biggest increase (not adjusted for inflation) in 10 years. It then tells us that adjusted for inflation, wages rose 0.6%, and that is the biggest increase in 2 years. We're then told that unemployment is at a 49-year low, and this has put pressure on employers to increase wages. [Apparently, under such pressure, employers consider a 0.6% rise in real wages after a decade of low wage growth to be "good."] They then quote an eonomist