America's Economy is Doing Well, Perhaps Not?

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-- America's Economy is Doing Well, Perhaps Not?

Posted by St_Andrew on May-09-2005 04:06:

America's Economy is Doing Well, Perhaps Not?

So american real wages were down for 2004, meanwhile all EU countries except malta and cyprus were up for 2004. This despite europe's straggeling economy, and americas seemingly (GDP wise) kick ass economy...

Interesting...

Posted by josh4 on May-09-2005 04:23:

how dare u post in PDD without citing any sources

Posted by Yoepus on May-09-2005 13:10:

Sad how your still sour about that article on Scandanavia aren't you....

Posted by St_Andrew on May-09-2005 14:24:

quote:
Originally posted by Yoepus
Sad how your still sour about that article on Scandanavia aren't you....

Nah, we broke that one down, easy

As for the source, it was a swedish article (in a respected swedish newspaper), about european real wages. Then i did a google on american, and it turned out that they were down last year.

http://www.dn.se/DNet/jsp/polopoly....ousRenderType=1

http://query.nytimes.com/gst/abstra...DAD0894DD404482

Posted by occrider on May-09-2005 14:49:

After adjusting for inflation it's a whopping .1% .

It's somewhat difficult to make a comparative evaluation when you're using growth metrics as opposed to absolute metrics. For example, Thailand has had industrial production growth rates of 7-8% as opposed to the US and the EU's 1-2% but that hardly means Thailand is on par with either the US or the EU.

Posted by St_Andrew on May-13-2005 19:02:

quote:
Originally posted by occrider
After adjusting for inflation it's a whopping .1% .

Still 0.6% better than the US which is kinda weird imo :S but good for europe of course

and thanks for the chart, was looking for something like that.

quote:
It's somewhat difficult to make a comparative evaluation when you're using growth metrics as opposed to absolute metrics. For example, Thailand has had industrial production growth rates of 7-8% as opposed to the US and the EU's 1-2% but that hardly means Thailand is on par with either the US or the EU.

Ya, but shouldnt the GDP growth and wage growth go in the same direction? and if it doesnt then that should show that something is not as well as it might look?

Posted by occrider on May-13-2005 21:12:

quote:
Originally posted by St_Andrew

Ya, but shouldnt the GDP growth and wage growth go in the same direction? and if it doesnt then that should show that something is not as well as it might look?

Not necessarily. Wage growth may have a long term correlation with GDP but anything can happen on a month to month basis. If you look at year over year growth, the EU is performing at the same level as the US. Wage growth alone doesn't say much about any economy. For example, looking at Germany, they experienced a .3% year of year increase in wages. Yet their economy and labor market is still a stagnating mess.