Thursday, April 30, 2015

Will the True Wage Report Please Stand Up

The Labor Department, in releasing the weekly unemployment claims number, also released wage data for March.  As Reuters news is reporting:
Private sector wages and salaries were up 2.8 percent in the 12 months through March, the biggest gain since the third quarter of 2008, after rising 2.2 percent in the 12 months through December.
The only problem with this 2.8% increase is that it isn't consistent with the Employment Situation Report for March from another government agency: the Bureau of Labor and Statistics.  That report, in Table B (page 5), says that average weekly private-sector wages only rose 2.1% from $839.73 in March 2014 to $857.67 in March 2015; just barely above the core annual inflation rate of 1.8%.  

Does the Obama Administration think people are too dumb to compare two separate reports for their accuracy and consistency?  Is this a politically motivated report to counter GOP Presidential candidates and their increasing focus on the poor wage growth under Obama? 


U.S. jobless claims at 15-year low; consumer spending rises:


In rounding out the Labor Department’s report, core inflation advanced 1.8% on a year-over-year basis after gaining 1.7% in the 12 months ending February and 1.6% through January:

Restoring the American Dream: Economy & Jobs | GOP:

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