Workers see their paychecks get smaller as inflation continues to rise

[McRocket]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

 

[SSGT Bags]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And if inflation keeps rising above the Fed's 2% target...they will eventually have to step in and raise rates...which will hurt the economy.

Really?
OK, splain this to me Bunky.
You have been out of work since 2015 under Obummy.
Trump comes along and Lo and behold, you land a job paying $20 per hour.
Tell me the impact of .09% inflation when your pay went from 0 to $800 per week.

 

[Timmy]

It’s the gop war on the working man. Meanwhile, big biz is gangbusters . CEOs never had it so good .

 

[McRocket]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And if inflation keeps rising above the Fed's 2% target...they will eventually have to step in and raise rates...which will hurt the economy.

Really?
OK, splain this to me Bunky.
You have been out of work since 2015 under Obummy.
Trump comes along and Lo and behold, you land a job paying $20 per hour.
Tell me the impact of .09% inflation when your pay went from 0 to $800 per week.

Okay 'Bunky'?

Here is the U-3 chart for the last ten years:

Bureau of Labor Statistics Data

And the Household Survey employed stats:

Employment status of the civilian noninstitutional population, 1947 to date

Now why don't you show me where the U-3/employment growth was stagnant under Obama (after the end of the 'Great Recession') and where it suddenly accelerated downwards once Trump took office?

Trump has not accelerated the U-3 drop OR total employed (Household Survey) ONE BIT.


Once again, I am neither Dem nor Rep.

 

[whitehall]

Here's another one of those strange statistics that only the left can dream up. "Inflation rose at it's fastest pace since 2008" maybe so if you can figure out what "pace means" but it's only 2/tenths of a percent above 2008 and the DOW was 6,500 at that time and it is 25,000 today. The crazy left might be desperate to grasp defeat from the jaws of victory but it just ain't hapnin.

 

[McRocket]

Here's another one of those strange statistics that only the left can dream up. "Inflation rose at it's fastest pace since 2008" maybe so if you can figure out what "pace means" but it's only 2/tenths of a percent above 2008 and the DOW was 6,500 at that time and it is 25,000 today. The crazy left might be desperate to grasp defeat from the jaws of victory but it just ain't hapnin.

What the bloody heck are you blathering about?

The statistic you are whining about is from the BLS. That means it is an official government statistic. The BLS is part of the United States Department of Labor. That means there is a Trump cabinet member overseeing it.

'The all items index rose 2.9 percent for the 12 months ending July, the same
increase as for the period ending June. The index for all items less food and
energy rose 2.4 percent for the 12 months ending July; this was the largest
12-month increase since the period ending September 2008. The food index increased
1.4 percent over the last 12 months, and the energy index rose 12.1 percent. '

Consumer Price Index Summary


Jeez...somebody save us from these macroeconomic ignoramuses who think they know what they are talking about.

 

[Darkwind]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

 

[AZGAL]

What a BS thread this is!

 

[McRocket]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

Generally, I agree.

But the Fed's balance sheet is shrinking, has been for a while....just very slowly.

All Federal Reserve Banks: Total Assets

 

[McRocket]

What a BS thread this is!

And another (I assume) Trumpbot makes yet another well researched, detailed and concise post.



The thread is about government-released statistics on the inflation rate. What is 'BS' about posting the facts?

Or is it that you just only like threads that are about 'good facts' for Trump?


Once again, I am neither Dem nor Rep.

 

[Darkwind]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

Generally, I agree.

But the Fed's balance sheet is shrinking, has been for a while....just very slowly.

All Federal Reserve Banks: Total Assets

Not nearly enough. The price is due. The question is, when?

 

[McRocket]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

Generally, I agree.

But the Fed's balance sheet is shrinking, has been for a while....just very slowly.

All Federal Reserve Banks: Total Assets

Not nearly enough. The price is due. The question is, when?

I agree.

I was no fan of the way Obama handled the economy (and Trump is doing no better with his tariff madness).

And don't get me started about how absolutely pathetic the Fed has been since at least 2001.

 

[Wyatt earp]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And minimum wage used to be 25 cents an hour, so what's your point?

.

 

[Rustic]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

Generally, I agree.

But the Fed's balance sheet is shrinking, has been for a while....just very slowly.

All Federal Reserve Banks: Total Assets

Not nearly enough. The price is due. The question is, when?

I agree.

I was no fan of the way Obama handled the economy (and Trump is doing no better with his tariff madness).

And don't get me started about how absolutely pathetic the Fed has been since at least 2001.

That’s why we need to shrink the federal government down to minimum size, otherwise we’re just going to repeat the same mistakes over and over again

 

[Siete]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And if inflation keeps rising above the Fed's 2% target...they will eventually have to step in and raise rates...which will hurt the economy.

Really?
OK, splain this to me Bunky.
You have been out of work since 2015 under Obummy.
Trump comes along and Lo and behold, you land a job paying $20 per hour.
Tell me the impact of .09% inflation when your pay went from 0 to $800 per week.

DDDUUUUUHHHHH DERP DERP DERP ^^^^^^^^


your wages buy LESS THAN THEY DID before you lost your job in 2015 ..

RWs are total idiots

 

[imawhosure]

Just wait until all those trillions that Obama pumped into the economy over 12 years begin to be felt.

So far, I've heard nothing of the Fed clawing that money back. You think this paltry inflation now is bad, wait until the real deal hits.

Generally, I agree.

But the Fed's balance sheet is shrinking, has been for a while....just very slowly.

All Federal Reserve Banks: Total Assets

Not nearly enough. The price is due. The question is, when?

I agree.

I was no fan of the way Obama handled the economy (and Trump is doing no better with his tariff madness).

And don't get me started about how absolutely pathetic the Fed has been since at least 2001.

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And minimum wage used to be 25 cents an hour, so what's your point?

.

Inflation is going to tick up, the economy is HOT, the Obysmal slush fund called QE is still languishing in our liquid assets, and tariffs are going to cause prices to rise.

On the other hand, under Obysmal, we could NEVER have tried to bring other countrys to the table with tariffs, because our economy would never have withstood it long enough to work. Now, I think tariffs suck except against enemies such as Russia, and China. They are counterproductive, along with counterintuitive. Now, if that was the only bullet, and its main purpose was to do what Trumps main goal was to do, I would say, FAIL!

But, if the idea is to FORCE others to the table as those that come early get all the punch and cookies, then it is a good idea.

If I take Trumps position as a whole in economics, it is A for everything except tariffs, and those can go away with a stroke of a pen, so it is not like he has put in regulations that will starve the economy that he can not rescind over night.

 

[Tax Man]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

From the washington post 4 days ago
Minimum wages rise, but gains fade
Economists cite more part-time work, high turnover, as reasons for low-paying jobs

By Abha Bhattarai The Washington Post August 6, 2018

James Collins has been working at Walmart for six years. His pay: $11 an hour, the same as what a new hire would make on their first day of work. Collins, a 65-year-old maintenance worker at a Dallas store, joined the company when the starting hourly wage was $8. Over the years, Walmart has steadily raised that rate, in part to attract workers in a tightening labor market. But data show that pay for longer-term workers like Collins has remained stubbornly stagnant. “There’s no appreciation for experience anymore,” Collins said. “Someone could walk off the street today and get paid the same as me.” Retailers have made headlines for raising their minimum hourly wages in quick succession — CVS to $11, Costco to $13, Target to $15 by 2020 — while 29 states and the District of Columbia now require that employers pay more than the federal minimum wage of $7.25 per hour. But economists say those gains have not translated to higher wages among mid-level workers. The average hourly wage paid to retail workers dropped to $18.58 in June, from $18.65 a month earlier, according to data from the U.S. Bureau of Labor Statistics. (Year over year, the average hourly retail wage has risen 2 percent, from $18.15.) “Poor wage growth has persisted even as we’ve hit 4 percent unemployment, and that’s particularly true for workers in the middle,” said Josh Bivens, director of research at the Economic Policy Institute, a progressive think tank. Economists cite a number of factors, including a decline in union jobs and fewer opportunities to move up within the industry. Add to that high turn-over rates and a trend toward part-time work, and the result has been a growing group of retail workers who may be making higher minimum wages but con- tinue to feel stuck in low-paying positions. Wages for the country’s lowest-paid workers have increased 0.7 percent per year since 2007, while those in the middle — the 50th percentile — have gained 0.3 percent annually, according to an analysis of Bureau of Labor Statistics data by the Economic Policy Institute. (Also worth noting: The country’s highest-paid workers, those in the top 5 percentile, received wage increases of 1.3 percent per year during that period.) At Walmart, the World’s larg- est private employer, Collins says wages have remained flat — “$11, across the board” — for those around him since the company raised its starting wage in February. Managers, he says, have made it clear that pay increases are unlikely in his current position, where his responsibilities include cleaning up spills, emptying trash cans and maintaining bathrooms. “A lot of people think it doesn’t take any skill to sweep a floor,” he said. “But after a while, you get fast at it, you develop a system for doing things well.” Walmart spokesman Justin Rushing said the “vast majority” of the company’s U.S. employees make more than $11 an hour. “In general, every Walmart associate receives a raise each year,” he said in an email. Half of Walmart’s 2.3 million workers worldwide made less than $19,177 last year, according to an analysis by the Wall Street Journal. That translates to roughly $10.85 an hour for full-time workers. (Walmart, which had a starting wage of $9 an hour last year, considers 34 hours a week to be full time.) Chief Executive Doug McMillon, meanwhile, received $22.8 million in compensation last year, up 2 percent from the year before, according to company filings. A decade ago, Collins was making nearly double what he does now, loading and unloading trucks for a trucking company that paid him $19 an hour. But then the recession hit, and he was laid off. Collins continued to pick up shifts at the company until 2012, when he decided a part-time job at Walmart would offer more stability. “The crash of ‘O8 crashed a lot of things,” he said. “I don't think I’ll ever make $19 an hour again.” At his current job, he says there are few opportunities to move into higher-paying work. Earlier this year, Walmart cut 3,500 store co-manager jobs and replaced them with 1,700 lower-paying assistant manager positions, according to Making Change at Walmart, a campaign run by the United Food and Commercial Workers International Union. (Rushing, the Walmart spokesman, confirmed those changes.) “Managers are being squeezed out,” said Diane Swonk, chief economist at professional-services firm Grant Thornton. “Companies are taking what used to be high-skilled, high- paid jobs and turning them into lower-skilled, lower-paying jobs.” That shift, she said, has been particularly pronounced in retail, where companies are making do with fewer workers to offset narrowing profit margins. The rise of sites like Amazon. com have meant traditional retailers have had to slash prices - and costs - to keep up. (Jeff Bezos, the founder and chief executive of Amazon, owns The Washington Post.) At the same time, economists say dwindling unionization rates mean fewer workers are getting routine pay increases. Last year, 6.5 percent of private-sector workers belonged to a union, down from 13.4 per- cent in 1987. “The downward trend in unionization has affected pay across the board,” said Steven Kyle, an economics professor at Cornell University. “A lot of wage scales keyed off of unionized sectors, so the effects have been far more pervasive than just impacting who’s in the union.” Until earlier this year, Lorene Berry made $11.85 an hour working at a Chicago Walmart as a price verifier responsible for updating price tags throughout the store. But in February, she was told the store was doing away with the position. She was reassigned to the shoe department, where her pay was cut by 5 percent to $11.26 an hour. “They told me they need to do this to better compete with Amazon,” said Berry, 42, who has been at the company since 2014. “To be here for four years and still be in this position, it’s a struggle.”

 

[Correll]

I think there is a lot of institutional stupidity among the management class.

They have gotten fat and lazy, with an unlimited supply of cheap foreign labor, both legal and illegal.


They have forgotten that part of their job is to find and keep good employees.


THey can't imagine that they can't get good employees while paying shit and treating them like shit.


We need to keep turning up the heat on these morons. Eventually they will get the message.

 

[SSGT Bags]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And if inflation keeps rising above the Fed's 2% target...they will eventually have to step in and raise rates...which will hurt the economy.

Really?
OK, splain this to me Bunky.
You have been out of work since 2015 under Obummy.
Trump comes along and Lo and behold, you land a job paying $20 per hour.
Tell me the impact of .09% inflation when your pay went from 0 to $800 per week.

DDDUUUUUHHHHH DERP DERP DERP ^^^^^^^^


your wages buy LESS THAN THEY DID before you lost your job in 2015 ..

RWs are total idiots

Ya Freakin twit, YOU HAD NO JOB IN 2014!

 

[SSGT Bags]

'While the rest of the economy pointed higher in July, American workers took a step backwards.

Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday.

Average weekly earnings actually decreased 0.2 percent over the one-month period and increased only fractionally from the same period a year ago. Average hourly earnings were unchanged over the month and actually two cents lower than July 2017.


The readings came during a month that saw core inflation rise at its fastest pace since September 2008. The Consumer Price Index increased 0.2 percent month over month for an annual gain of 2.4 percent, up one-tenth of a percentage point from June and driven primarily by a jump in rental costs.

The decline puts real wages on their worst level since October 2012.'

Workers see their paychecks get smaller as inflation continues to rise

Economic growth leaves the little guy/gal behind.

And if inflation keeps rising above the Fed's 2% target...they will eventually have to step in and raise rates...which will hurt the economy.

Really?
OK, splain this to me Bunky.
You have been out of work since 2015 under Obummy.
Trump comes along and Lo and behold, you land a job paying $20 per hour.
Tell me the impact of .09% inflation when your pay went from 0 to $800 per week.

Okay 'Bunky'?

Here is the U-3 chart for the last ten years:

Bureau of Labor Statistics Data

And the Household Survey employed stats:

Employment status of the civilian noninstitutional population, 1947 to date

Now why don't you show me where the U-3/employment growth was stagnant under Obama (after the end of the 'Great Recession') and where it suddenly accelerated downwards once Trump took office?

Trump has not accelerated the U-3 drop OR total employed (Household Survey) ONE BIT.


Once again, I am neither Dem nor Rep.

There are MULTIPLE U-3 Charts, which one are you quoting?