Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

[excalibur]

How to ruin a good thing: By Joe Biden.

...

Average hourly earnings technically increased from $29.35 in June 2020 to $30.40 last month, according to the U.S. Bureau of Labor Statistics.

But real average hourly earnings decreased by 1.7 percent over the same time period, thanks largely to the consumer price index — which measures the price of consumer items — rising 5.4 percent.

With the 1.7 percent real earnings drop, those earning $50,000 annually effectively lose $850 to inflation.

And it’s looking worse: While average hourly earnings rose by 0.3 percent from May to June of this year, according to the statistics bureau, the CPI also rose by 0.9 percent.

Mixing wages and inflation in its pot of economic numbers, the bureau spit out this sobering figure: Real average hourly earnings dropped by 0.5 percent in one month, between mid-May and mid-June.

Multiply that 0.5 percent by the number of months in a year, and you’ll see your paycheck evaporate at an annual rate of 6 percent.

...​

Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

It's not your imagination when you go to the store or stop at the gas pump: Prices really are going up. Big time.

www.westernjournal.com

 

[Fort Fun Indiana]

How to ruin a good thing: By Joe Biden.

...​

​

Average hourly earnings technically increased from $29.35 in June 2020 to $30.40 last month, according to the U.S. Bureau of Labor Statistics.​

​

But real average hourly earnings decreased by 1.7 percent over the same time period, thanks largely to the consumer price index — which measures the price of consumer items — rising 5.4 percent.​

​

With the 1.7 percent real earnings drop, those earning $50,000 annually effectively lose $850 to inflation.​

​

And it’s looking worse: While average hourly earnings rose by 0.3 percent from May to June of this year, according to the statistics bureau, the CPI also rose by 0.9 percent.​

​

Mixing wages and inflation in its pot of economic numbers, the bureau spit out this sobering figure: Real average hourly earnings dropped by 0.5 percent in one month, between mid-May and mid-June.​

​

Multiply that 0.5 percent by the number of months in a year, and you’ll see your paycheck evaporate at an annual rate of 6 percent.​

​

...​

Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

It's not your imagination when you go to the store or stop at the gas pump: Prices really are going up. Big time.

www.westernjournal.com

Out of curiosity... I know this is probably a dead end...

What would you do to increase wages and stop inflation right now? I would venture there is not much you can do, as it economy appears headed for another dip. But you know better, maybe?

 

[Oddball]

No mean tweets!

 

[Ben Thomson]

How to ruin a good thing: By Joe Biden.

...​

​

Average hourly earnings technically increased from $29.35 in June 2020 to $30.40 last month, according to the U.S. Bureau of Labor Statistics.​

​

But real average hourly earnings decreased by 1.7 percent over the same time period, thanks largely to the consumer price index — which measures the price of consumer items — rising 5.4 percent.​

​

With the 1.7 percent real earnings drop, those earning $50,000 annually effectively lose $850 to inflation.​

​

And it’s looking worse: While average hourly earnings rose by 0.3 percent from May to June of this year, according to the statistics bureau, the CPI also rose by 0.9 percent.​

​

Mixing wages and inflation in its pot of economic numbers, the bureau spit out this sobering figure: Real average hourly earnings dropped by 0.5 percent in one month, between mid-May and mid-June.​

​

Multiply that 0.5 percent by the number of months in a year, and you’ll see your paycheck evaporate at an annual rate of 6 percent.​

​

...​

Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

It's not your imagination when you go to the store or stop at the gas pump: Prices really are going up. Big time.

www.westernjournal.com

Data is all about how you present it to justify your narrative. You make it sound like Americans were enjoying boom times under Trump and are now suffering under Biden, who as only been in office about 7 months. If you like economic data here's some that you won't like..News analysis: Income growth declines for poor Americans under Trump

 

[Moonglow]

Data is all about how you present it to justify your narrative. You make it sound like Americans were enjoying boom times under Trump and are now suffering under Biden, who as only been in office about 7 months. If you like economic data here's some that you won't like..News analysis: Income growth declines for poor Americans under Trump

They ignore the bad and only talk about the supposed good.

 

[Fort Fun Indiana]

Some of the lagging effects of the economy dip last year have been hidden from us so far, with our meager stimulus. Defaults and evictions are about to spike. Q3 was the consensus on the forecast 9 months ago, but that has been pushed to late Q3 into Q4. Meanwhile we sit here without our monetary and fiscal central banking tools, having shot our wads and not reloaded. Housing and car prices are both forming bubbles, as is obvious. Many people speculate that they will plateau soon, but they are banking on another slowdown in the economy. So their analysis is like looking at a hurricane through a microscope (true, but limited). The "plateau" does not as much good, when everything else is falling to shit. When banks are close to failing, because they can't raise rates in this environment, as they soak up defaults. An already short housing market will see a marked increase in REO, which are on the average subpar properties that won't be financed by normal banks or credit unions, so that they become investment properties and overpriced rentals.

 

[Ben Thomson]

9 out of the last 10 republican presidents had a recession while office, so considering that recessions means lost jobs and stagnant economic growth while inflation means a temporary drop in the value of the dollar, which would you prefer to suffer under.

 

[EvilCat Breath]

Democrats are going to pay an enormous price and it could not be more deserved.

 

[wamose]

Wages always fall when you flood a country with cheap, illegal alien labor. I guess Democrats miss their slaves more than anyone knew. And the American worker gets bitch slapped by Democrats again.

 

[airplanemechanic]

Wages always fall when you flood a country with cheap, illegal alien labor. I guess Democrats miss their slaves more than anyone knew. And the American worker gets bitch slapped by Democrats again.

Did you read the OP? Wages are NOT falling. They are EFFECTIVELY falling because the CPI is going up faster than wages are. So that means your buying power is reduced, so your wages are effectively reduced.

It has nothing to do with illegals and everything to do with flooding the market with printed meaningless and worthless money.

 

[initforme]

Wages in america have always been woefully behind the amount of production every worker provides. That's the system.

 

[struth]

How to ruin a good thing: By Joe Biden.

...​

​

Average hourly earnings technically increased from $29.35 in June 2020 to $30.40 last month, according to the U.S. Bureau of Labor Statistics.​

​

But real average hourly earnings decreased by 1.7 percent over the same time period, thanks largely to the consumer price index — which measures the price of consumer items — rising 5.4 percent.​

​

With the 1.7 percent real earnings drop, those earning $50,000 annually effectively lose $850 to inflation.​

​

And it’s looking worse: While average hourly earnings rose by 0.3 percent from May to June of this year, according to the statistics bureau, the CPI also rose by 0.9 percent.​

​

Mixing wages and inflation in its pot of economic numbers, the bureau spit out this sobering figure: Real average hourly earnings dropped by 0.5 percent in one month, between mid-May and mid-June.​

​

Multiply that 0.5 percent by the number of months in a year, and you’ll see your paycheck evaporate at an annual rate of 6 percent.​

​

...​

Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

It's not your imagination when you go to the store or stop at the gas pump: Prices really are going up. Big time.

www.westernjournal.com

Sad, seems like not that long ago when Trump was President when we actually started to see an increase in wages.

Welcome to the left's America....sad stuff...inflation up, wages going down......