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Friday, October 28, 2005

Who Gets the Cookies?

Estimates of GDP growth for the third quarter showed robust growth with GDP expanding at 3.8%. See William Polley and Kash at Angry Bear for details and analysis. The Washington Post report is here, NY Times here. Another report, The Employment Cost Index, also came out today and as Bloomberg notes, wage growth continues to be stagnant:

Wages increased 2.3 percent in the third quarter from the same three months last year, the smallest year-over-year rise since record-keeping began in 1981... Total U.S. labor costs rose 0.8 percent in the third quarter after a 0.7 percent rise in the previous three months.

So the economic news is not unambiguously positive from labor's perspective.

    Posted by on Friday, October 28, 2005 at 09:26 AM in Economics | Permalink  TrackBack (1)  Comments (7)

          

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    » New GDP data and recession probabilities from Econbrowser

    The Bureau of Economic Analysis yesterday released its advance estimates for the third quarter, reporting real GDP grew at an annual rate of 3.8%. [Read More]

    Tracked on Saturday, October 29, 2005 at 12:54 PM


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