Cost of living up, wages worth less

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	Cost of living up, wages worth less

Red Pen

8-15-2008 9:57 AM

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/3d66a356-dd96-4c7f-98a4-1e5cb0abb77a/8161A28B-F219-486E-B6E1-F2AC01D4782F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin" href="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin">The cost of living, led by the soaring cost of gasoline and food, is rising at the fastest rate since the recession of the early 1990s, the government said on Thursday, handing a de facto pay cut to the American worker.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin">Prices of a wide range of common products in the <A title="More articles about the Consumer Price Index." href="http://topics.nytimes.com/top/reference/timestopics/subjects/c/consumer_price_index/index.html?inline=nyt-classifier">Consumer Price Index</A> were 5.6 percent higher last month than they were in July 2007, the sharpest annual increase since January 1991.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin">The higher prices have made many workers’ wages effectively worth less.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/08/15/business/economy/15econ.html?_r=1&partner=rssnyt&oref=slogin">In July, rank-and-file workers — those in production or nonsupervisory roles — earned 3.1 percent less than they did a year ago, after adjusting for the rising cost of living.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/8161A28B-F219-486E-B6E1-F2AC01D4782F/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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