Pursuits
Wages Bolster Spending as Americans Extend Hours: Economy
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Consumer spending in the U.S. is rising even though hourly pay isn’t. The reason: More Americans are finding jobs and putting in longer hours in the office and on the factory floor.
Wages and salaries -- the total paycheck for all Americans -- climbed 2.2 percent in the 12 months through March after adjusting for inflation, according to calculations by RBS Securities Inc. economist Omair Sharif. Earnings per hour on average dropped 0.7 percent in real terms over the same period, according to Labor Department data.