- Nov 10, 2011
- Reaction score
Hey genius, the value of the dollar is obviously not the only indication of cost of living. You see there is such a thing as rising cost of rent, medical expenses, and every day expenses.Nothing you post is true, why do you do that?Okay for one thing, incomes for the poor and middle class were already slightly growing under Obama. The problem with the wage growth under both Obama and Trump is that the growth is still way behind on the cost of living which only goes up each year. The wage growth is essentially useless.
Also, Trump inherited job growth. Obama presided over the longest stretch of job growth in history and Trump is headed toward a recession. And no, the low unemployment numbers have nothing to do with the risk of recession. That’s just stupid. It’s the market that is at stake - not job growth.
You saying the incomes for the poor and middle class were already growing "SLIGHTLY" under Obama means that even you realize the recovery calls back the term used during the Carter administration, malaise.
U.S. Inflation Rate, $1 in 2014 to 2020
According to the Bureau of Labor Statistics consumer price index, today's prices in 2020 are 8.55% higher than average prices since 2014. The U.S. dollar experienced an average inflation rate of 1.38% per year during this period, meaning the real value of a dollar decreased.
In other words, $1 in 2014 is equivalent in purchasing power to about $1.09 in 2020, a difference of $0.09 over 6 years.
$1 in 2014 → 2020 | Inflation Calculator
U.S. salary budgets are projected to rise by an average (mean) of 3.3 percent in 2020, up from an actual year-over-year increase of 3.2 percent for 2019 and 3.1 percent in 2018, according to the WorldatWork's survey data, collected through May 2019 from more than 6,000 responses, including from companies making no salary adjustments.
2020 Salary Budget Growth Expected to Notch Just Above 3%
That proves that we are having good wage growth.
Come on now, even the Main Stream Media has had to admit that there is no recession in sight. That's bad news for you, isn' it?
The Unemployment Rate Does Not Signal A Recession
Update - October 4, 2019
Oct. 4, 2019 10:29 AM ET
|The Unemployment Rate Does Not Signal A Recession: Update - October 4, 2019 | Seeking Alpha
Here’s the statistic that actually matters: 78% of working adults live paycheck to paycheck.
78% Of Workers Live Paycheck To Paycheck
Unemployment Is Low, Wages Are Up — But Cost of Living in America Keeps Rising
The cost of living has risen 14% in the last three years.