Basic Facts about Wealth and Poverty

Wojtek Sokolowski sokol at
Mon Jun 8 09:34:22 PDT 1998

At 11:11 AM 6/8/98 -0400, Doug Henwood wrote:

>>'A balanced budget, 1.4% inflation, 4.3% unemployment, 296,000 new jobs in
>>May, 3% year-to-year real wage increases....

Well, 1.4% is for the entire economy, which includes a lot of hi-tech capital goodies like computers, whose prices have been falling steadily. But what is the inflation rate for the service sector -- i.e. where most working people spend their money? I do not have the numbers handy, but I suspect it is higher than 3%.

Another question, are the 296,000 new jobs full-time equivalent?



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