August 4, 2008
Stimulus Checks Spent, Wages Fall Short
By Matthew L. Brown
American wages are not keeping up with inflation, according to the U.S. Department of Commerce.
Personal income increased 0.1 percent in June while disposable personal income decreased by 1.9 percent and personal consumption expenditures increased 0.6 percent.
In May, personal income increased 1.8 percent, disposable personal income increased 5.7 percent and personal consumption expenditures increased 0.8 percent.
The department said the differences between the May and June figures are attributable to the federal economic stimulus payments made in May.
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