There was a uptick in real-wages of .5%. There was a slight up tick in wages for the number of people employed but employed year over year continued to fall from -4.69% to -4.9%.

The model overtime shows that real sustained recovery takes place when year over year employment and real-wages for all workers turns up.  This means there is still risk that the consumer will retrench and limit spending. We expect to see another down turn in real-wages for June 2009 because of higher fuel and energy prices. Real-wags dropping has negative implications for the stock market.  This data will be publish on or after July 16, 2009 when data becomes available.

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