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Consumers Squeezed as Inflation Outpaces Wages

January 17, 2010

American families were squeezed last year as their inflation-adjusted weekly wages fell 1.6 percent — the sharpest drop since 1990 — even as consumer prices rose only modestly.

Their spending power sank in the face of falling wages, job losses and higher prices for energy, medical care and education. Slack pay and scarce job creation are slowing consumer spending, hindering the economy’s ability to mount a strong recovery.  Read More

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