Press Release - Real Earnings Lag in Bush Economy

Real Earnings Lag in Bush Economy
JEC's senior House Dem says American workers have been left behind

WASHINGTON, DC - The Bureau of Labor Statistics reported today that average weekly earnings for a worker in the month of September were $569.19. After adjusting for inflation, that represents a one percent increase from the previous month. Even with that bump, real weekly earnings continue to remain lower than they were three years earlier, when job losses from the 2001 recession were at their peak.

Rep. Carolyn Maloney (NY-14), the Joint Economic Committee's senior House Democrat, said today that American workers continue to be left behind in the economic recovery. She released the following statement:

"Perhaps the biggest error of the Bush economy is how things have gone in the wrong direction for American workers and the middle class. American workers are taking home less than they were three years ago, after adjusting for inflation. Prices at the pump are up by more than 50 percent from when President Bush took office. And this president has the worst job creation record of any president since Hoover.

"While corporations are swimming in profits, it's a tough economic climate for American workers and the middle class. The gap between the ‘haves' and the ‘have nots' is growing, which shouldn't be the case during a so-called economic recovery."

http://maloney.house.gov/index.php?option=com_content&task=view&id=1219&Itemid=61