September's jobs report extended a trend that illustrates consumers' widespread pain: Their pay is not keeping pace with inflation.
Average hourly earnings rose an anemic 0.1% month over month and are up 3% year over year, new Labor Department data showed. That's against a backdrop of inflation data, which showed, most recently, prices growing at a 3.4% rate as of August.
The inversion, when inflation overtook pay growth, happened this spring. READ MORE
