Wage Deflation in the US?
+ US wage rates have not budged since January 1, 2010.
+ Demand for labor is not keeping pace with the supply.
+ Total pool of labor available is 21.2 million people. It would take 28 months of gains to absorb and reverse the deflationary tide.
+ 1 in 5 American men, age 25-54 are not working.
+ 28% of American families say at least 1 member is looking for work.
+ 34% are afraid of being laid off.
+ CEO Survey: 3 of 4 CEO’s are not intending to hire.
+ The following link shows how unemployment has grown from April 2007 to May 2010. Click Here
+ Euro down, US and Canadian dollar up
2nd Rig Sinks
+ 2nd rig sinks, this time a Venezuelan natural gas exploration rig sank in the Caribbean Sea early May 13th.