If we're going to keep the housing party going better break out the
NINJA/negative am/lno doc loans ... because tepid job growth and
declining real wages isn't going to help:
REAL EARNINGS * SEPTEMBER 2012
All employees
Real average hourly earnings for all employees fell 0.3 percent from August to September,
seasonally adjusted, the U.S. Bureau of Labor Statistics reported
today. A 0.3 percent increase in average hourly earnings was more than
offset by a 0.6 percent increase in the Consumer Price Index for All
Urban Consumers (CPI-U).
Real average weekly earnings was unchanged over the month due to the
decrease in real average hourly earnings combined with a 0.3 percent
increase in the average workweek. Since reaching a peak in October 2010,
real average weekly earnings has fallen 1.3 percent.
Real Earnings
I just saw a tweet that the Troika talks broke down "unexpectedly" so maybe not that near.
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