Amy Winehouse Andy Dick Angelina Jolie Anna Nicole Smith AOL Apple Architecture Art Ashlee Simpson Ashley Greene Auto Cars Avril Lavigne Ayu Oktasari Bai Ling Bank of America Barack Obama Beauty and Style Beauty-Style Bernanke Beyonce Bing Bobby Brown Brad Pitt Britney Spears Brittany Murphy Brooke Hogan Business Ideas Business News Calum Best Car News Car Photos Car Reviews Car Videos Carmen Electra Carrie Prejean Casey Johnson Celebrity Celebrity Nails Cheryl Cole China Chopper Lane Splitter Chris Rowe Christina Aguilera Christina Hendricks Cindy Crawford Clinton Clip COMEDY Coming Soon Companies Courtney Love Credit Cards Dalene Kurtis Daniel Baldwin Daniel Mica David Beckham David Hasselhoff Deborah Caprioglio DietFitness Drawing & Coloring Earthquake Economy Eirik Solheim Entertainment Eva Mendes Facebook Facebook-Games Farmville Fastion Forex Funny Game Game Info Game News General Motors Gold Golden Globes Haiti Halle Berry Heather Mills Heidi Fleiss Holly Madison Hot Girls Hot News Hot Women How To How To Read A Forex Chart HOW TOs Insurance International Investing Ipad Iphone Isaiah Washington Jamie Lynn Spears Jenna Jameson Jennifer Hawkins Jennifer Hudson Jesse Metcalfe Jessica Sierra Jessica Simpson Jobs Jocelyn Wildenstein Joe Weisenthal Jonathan Rhys Meyers Kat Dennings Kate Moss Kate Winslet Katie Price Katie Rees Katy Perry Keeley Hazell Keith Richards Kelly Brook Kelly Clarkson Kendra Wilkinson Kiefer Sutherland Kim Kardashian Kirsten Duns Kiss Style KT Tunstall Laetitia Casta Lauryn Hill Leah Marville Leona Lewis Leonardo DiCaprio lesbian Lesbian-Questions Lil Kim Lily Allen Lindsay Lohan Liz Pulliam Weston Loan Centre Louis Navellier Lynda Carter Make Money Mariah Carey Marisa Miller Mary Kate Olsen Mayim Bialik Megan Fox Mel Gibson Michael Jackson Michael Vick Michelle Obama Michelle Rodriguez Miley Cyrus Mischa Barton Miss World Mobile and Internet Molly Sims Movie Info Movies Mutual Funds Nadia Fazlini Sharip Nail Art Tutorial Nail Samples Nails Naomi Campbell News Nicolas Cage Nicole Polizzi Nicole Richie O.J. Simpson Oirigami Useful Origami Origami Airplane Origami Animal Origami Animal Easy Origami Animal's Face Origami Box Origami Flowers Origami Useful Osama Bin Laden Owen Wilson Pamela Anderson Paper Airplane Paris Hilton Paula Abdul Paula Sladewski Personal Finance Pete Doherty Pete Wentz Play Game Online Police Porsche Quotes about Life Rachel Zoe Real Estate Rihanna Roseanne Bar Sara Barelles Scandal Sean Young Sexual Health Shakira Shannon Elizabeth Sharon Stone Shocking Sienna Miller Star Stocks Strange Story Stupid Celebries Susan Boyle Taiwan Tamil Tiger Tara Reid Teens Tiger Woods Tila Tequila Today's Big story Tom Cruise Tom Sizemore Top Game Top Video Toyota Trading Trailers Travel Twilight Vanessa Hudgens Victoria Beckham Video Women Women-Family Women-Health Women'sHeath World Trade Center

Good job news: Wages are rising

1:03 AM
Good job news: Wages are rising

The end of more than two years of job losses can't come soon enough for most Americans.

But with all the attention given to the number of jobs on U.S. payrolls and the unemployment rate, it's easy to miss one important sign of improvement in the job market: paychecks have started to get bigger.

Despite the millions of people who have lost jobs during the past year, there are signs that personal income is increasing. Even a small gain in income is significant. If consumers have more money in their pocket, that can help to boost consumer spending and create the demand that will prompt a resumption of hiring.

"At the end of the day, we need income so people can spend money," said Sung Won Sohn, economics professor at Cal State University Channel Islands. "It is a sign that things are beginning to improve."

According to the government's monthly job reports, the average length of the work week and average hourly pay have been climbing steadily in recent months. The 1.1% rise in weekly pay in January was the biggest jump in nine months.

That's not the only evidence of a turnaround in pay.

An analysis of income and employment taxes withheld from more than 130 million U.S. workers by TrimTabs Investment Research found that total salaries and wages increased by 0.7% in February compared to a year ago. This is the first increase since 2008, and it represents $42 billion extra dollars in consumers' pockets compared to a year ago.

TrimTabs CEO Charles Biderman said he was surprised and encouraged by the increase in income, which occurred even as TrimTabs estimated there was another loss of 30,000 jobs in February, and total losses of 3.9 million jobs in the past year.

He said companies are adding hours back for workers who had been put on a part-time basis during the worst of the recession. He said there also was a much better environment than a year ago for year-end bonuses that were paid in February.

"As things stabilize, businesses are starting to spend a little more," Biderman said.

Sohn said strong gains in productivity are also allowing employers to pay their skilled workers more. Productivity rose at nearly a 7% rate in the fourth quarter, according to the government..

But Bob Brusca of FAO Economics cautions that Friday's employment report could show unduly bad numbers for both payrolls and hours due to the major snow storms that closed many businesses in the eastern United States during the week the Labor Department surveys employers.

He said bigger bonuses and slightly higher salaries can't by themselves make up for the spending power lost due to the massive job cuts of the past two years.

"You have to put these 8 million plus people back to work," he said.

By Chris Isidore cnn.com

Post a Comment

[facebook][blogger]

Author Name

Xin chào mọi người

Contact Form

Name

Email *

Message *

Powered by Blogger.