How is your paycheck holding up against the cost of living increase?  Last month the average weekly wage of most ordinary workers was up 2.8 percent in the 12 months through June, the Consumer Price Index was up more that 4 percent.

“The nation’s employers eliminated tens of thousands of jobs in June for the sixth consecutive month in a steady chipping away of the work force that seems likely to leave the economy very weak through Election Day.”

“Responding quickly to the government employment report, issued Thursday, the presidential candidates called for action, beyond the recent stimulus package, to reverse the deterioration. In past downturns, the Federal Reserve saved the day, or tried to, by cutting interest rates. This time, however, with the Fed having already cut rates drastically, appeals are increasingly going to the White House and Congress.”
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