Free Trade Travesty? U.S. Wages Up Barely Since NAFTA Enacted
Stop the presses. A recent report suggests that real wages in the United States went up as a result of the North American Free Trade treaty but by less than two-tenths of one percent. Now, that's progress -- not. Better than nothing, right? Wrong.
The study by two economists -- Yale University's Lorenzo Caliendo and the Federal Reserve's Fernando Parro -- found that U.S. salaries rose a whooping 0.17 percent, compared to 0.96 percent in Canada and 1.3 percent in Mexico, the Washington Post reported.
Nowhere does the venerable newspaper mention how many U.S. jobs were lost or how America's trade deficit with Mexico continues to chart new territory as a result of NAFTA. Oops.
So, be sure to go out and celebrate. All that added dough in your pocket ought to be enough to buy a stick of gum.
Read about it: http://wapo.st/TDbGBZ.