House of Paine

inflation targeting

its really wage targeting 
but that  remains unspoken 
because wages may need a crank 
even when the rate of inflation 
        exceeds the rate og wage gains 

as it has this past year .....



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counterpunch:


"Employers' wage costs grew 2.3%
 over the past year 

 Factoring in 
the recent energy-driven 
increase in inflation
 the real wage is down 2.3%"


"certainly not the path  we would expect
 in an economy posting strong productivity gains"

 around this same  rate has
 prevailed for the last four quarters

 Compensation-wages plus benefits-
also grew  slowly in the third quarter
 of this year
 up 3.1% over the same quarter last year
 the slowest yearly growth in six years"

For the first time in this employers' costs report, the Bureau of Labor Statistics presented these values adjusted for inflation. 


"Both wages and compensation
 are losing ground
 in real terms 
down 2.3% and 1.5%, respectively"

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 there is  an ongoing 
freakish  imbalance 
in the present  expansion
       as productivity 
 per hour rises rapidly
profits billow 
but  job comp limps
              even faulters 

 lagging wage and compensation 
demonstrates 
  increasing  unit labor costs
 are  not pushing up prices 

the  labor market
is far from overheating  that needs to be cooled 
by Federal Reserve rate hikes"

and yet we've had these hikes any way 

if its not to curb wages and commodity prices

what is it for ????