Thursday, September 07, 2006

Bad news, your pay went up.

Compare this "bad economic news" story on inflation in the Washington Post, which ominously reports "wages and benefits rose strongly," with the recent drumbeat of "bad economic news" stories on lagging wages.

Notice when the "bad news" is rising costs, the statistic used is "labor compensation, which includes wages and employment benefits," to make it look larger, and when the "bad news" is shrinking paychecks, only real wages are included, to make it look smaller.

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