Friday, December 10, 2010
November Hospital Insurance Receipts
Total wages and salary (because hospital insurance is charged on the entire amount) dropped YoY by 1.2%. That is worse than October. I was hoping to see go the other way (about -0.8% YoY). So much for my cheerful speculations.
Note that self-employed receipts are better, which is true of October also, and squares somewhat with NFIB data. This is the government finance problem coming to haunt us. We just have to live through it. Because government jobs pay better than private sector jobs, losing one government job outweighs two average private sector jobs gained.
with declining compensation and rising expenses ?
I think another drop in real estate prices will start the
next spiral down, taking the rest of the FIRE economy