Misdirection in the United States

Click here to access article by David Ruccio from Real-World Economics Review Blog. 

Economist Ruccio provides more data on what's happening in our the One Percent's economy. This is good news for them because labor costs are lower, and this means more profits for them. However, they don't want us to know that, so their media directors put a positive spin on such data in an attempt to keep us quiet.

The Washington Post tries to put a positive spin on the recent pattern of job growth. However, the underlying study (from the National Employment Law Project [pdf]) offers quite a different view: even though jobs gains have recently accelerated in higher-wage industries, the imbalance of especially pronounced gains at the bottom and slow growth in mid-wage industries persists.