A long-awaited liftoff in the U.S. economy is facing pressure from stubbornly weak wage growth, muddying the outlook for consumers and challenging Federal Reserve policy makers who are counting on a pickup as they unwind the central bank's extraordinary support for the recovery.
Growth in wage and salary income slowed to just 0.2% in April from the prior month, marking the weakest monthly increase of the year...After adjusting for inflation, wage and salary income was up 2% from a year earlier.
"It's a question not just of quantity but also of quality" of the new jobs being created, with many temporary or part-time jobs coming in low-paying industries, said (Sterne Agee chief economist Lindsey Piegza)
Link:http://online.wsj.com/articles/consumer-spending-fell-0-1-in-april-1401453354?
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