Number of employed workers in thousands-
Sept. 2010 139,391
Oct. 2010 139,061
Nov. 2010 138,888
The price of imported goods has averaged a 1.37 percent price increase per month for the year. The consumer price index for November was only .1 percent from October to November and while that sounds wonderful, that is an average number.
Household furnishings - Down .2 percent
Food away from home - Down .9 percent
Men's and boys' apparel - Down .4 percent
Footwear - Down .8 percent
New vehicles - Down .4 percent
Used cars and trucks - Down .5 percent
It is truly amazing, the recovery is in full swing and accelerating, yet prices are falling. Wages are flat and unemployment is worse this November than it was last November, back before the recovery kicked in.
Reuters- "There seems to be no doubt that the economy is improving and likely to continue to improve," said Mark Vitner, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.
Initial claims for state unemployment aid increased 26,000 to a seasonally adjusted 436,000 last week, the Labor Department said. But a four-week moving average -- a better gauge of underlying labor trends -- fell to its lowest level since the week ending Aug 2, 2008."
August, 2008 was the beginning of the crash, or, water flooded into the Titanic at the slowest rate since hitting the iceberg.
Bureau of Labor Statistics
November 2010
"Real average hourly earnings for all employees fell 0.1 percent from October to November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease stems from a 0.1 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U), while average hourly earnings
remained unchanged.
Real average weekly earnings fell 0.1 percent over the month, as the average workweek remained unchanged and combined with the decline in real average hourly earnings. Over the past 6 months, real average weekly earnings has changed little."
So as the shopping marathon continues we are forced to ask ourselves a question, is the media talking about some other country? Some other place where the economy is really on the mend? Could it be that our media isn't free but merely reasonably priced? Stories of economic woe might depress shoppers or encourage them to save their money.
So they begin the bandwagon approach, come on! Everybody's buying! Join in the fun! A shopper's marathon is underway, great deals! Great values! Don't be left out! Never mind that their job is to report the news and not create it. Like any other business they see their job as moving product and during the holiday season that means telling the people that everyone else is spending money and buying things! Everyone is so much feeling better!
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