June Full Time Jobs Plunges 523,000 While Part-Time Jobs Surge By Nearly 800,000 –Zero Hedge
(Bloomberg) Obama’s recovery is faltering–In June, the Mortgage Bankers Assn lowered their forecast for combined new and existing home sales in 2014 to 5.28 Million a decline of 4.1% while median prices of existing homes gained 11.5%
As prices climb, the ability of Americans with stagnant wages to buy homes wanes–the median U.S. Household Income rose less than 1% in 2013 according to data by Sentier Research from 2009 to 2013–In April, median income was $52,959 when adjusted for inflation its nearly 6% lower than in June, 2009 which marked the beginning of the (so called) economic recovery.
On the 18 June I wrote here that consumer prices spiked 0.4% in May after rising 0.3% in April the largest increase in 15 months.
With full time jobs plunging in June, falling household wages and a spike in consumer prices this year, how this Obamanomics working out for you?