Real weekly wages plunges in January, down -1.4% yr/yr adding more stress to deeply indebted households

The BLS reported today that average seasonally adjusted weekly wages fell another -0.5% behind consumer price increases in January with wages now able to buy -1.4% less than they did one year ago. Weekly wages fell in four of the past five months since last August. Average real weekly wages are now again lower than they were in January 2002…and in January 1981 when the irresponsible debt and deregulation ideology took power.