Anonymous Economist: Real Wages are Rising?
Lawrence Kudlow wants us to believe real wages are rising rapidly:
According to the New York Sun, one economist at a large Wall Street firm, speaking on condition of anonymity, suggested that the recent broad-ranging economic expansion is a plus for the Bush-Cheney campaign. “Wage growth is outstripping inflation handily, and often doubles it in most white collar jobs. I’d say the data trend belongs to the President at this point”.
Why didn’t Kudlow identify which New York Sun article he was referring to? And did Kudlow let his readers know the New York Sun is a “conservative newspaper” that even gets the wrath of conservatives such as Eugene Volokh? But why would any economist speak only on condition of anonymity? Perhaps because nominal hourly earnings have risen by a mere 1.3% over the past 6 months, while consumer prices have risen by 2.5%.