task0778
Diamond Member
Those who say wages have been stagnant since Trump took over are mistaken. It takes a while to kick start a economy from the moribund state it was in under Obama (1.6% economic growth in Dec 2016). Consider:
We are in the midst of a record economic expansion in which workers in lower-wage jobs are seeing their wages grow faster than many high-wage workers.
This is no mere blip on the screen. It’s an ongoing trend, as the July jobs report shows.
Average wage growth has been above 3% for the last 11 straight months. Meanwhile, the lowest 10th percentile of wage earners (people making about $12 an hour) have benefited from more than twice that gain in wages—a 6.6% wage increase over just the last year. That’s equivalent to a roughly $1,500 raise for someone earning less than $25,000 a year.
No, Wages Are Not Rising Because of Minimum Wage Laws | Adam Michel
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Here, the US economy is delivering even better results. Since 2016, weekly earnings for the bottom 10% of full-time workers have grown more than 50% faster than for workers at the median. The unemployment rate for adults without a high school degree is further below its long-term average than the rate for college-educated workers.
Don’t believe the naysayers: Capitalism is healthier than it appears | Michael R Strain
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In combination with low inflation on the items that matter, U.S. wage growth is exceeding 3.5 percent. Subtract the inflation of 1.7 percent from the wage growth of 3.5 percent and you get Real Earning Growth of +1.8 percent.
…”From August 2018 to August 2019, real average hourly earnings increased 1.8 percent, seasonally adjusted.”… (BLS Link)
Any time worker earnings grow faster than the rate of inflation the lifestyle of the middle-class improves. People simply have more money to save, spend or upgrade. It’s simply common sense economics.
Best “Recession” Ever – MAGAnomics: Inflation 1.7%, Wage Growth +3.5%, Real Worker Earnings +1.8%…
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With a tight labor market we are seeing the natural upward pressure on wages. In the past four months wage rates have increased 4.2% [Table B-3], and from the employment data it appears those large wage incentives are bringing people back into the workforce.
August Report: 130,000 Jobs Added, Annual Wage Growth 3.2%, Three Month Wage Growth 4.2%…
We are in the midst of a record economic expansion in which workers in lower-wage jobs are seeing their wages grow faster than many high-wage workers.
This is no mere blip on the screen. It’s an ongoing trend, as the July jobs report shows.
Average wage growth has been above 3% for the last 11 straight months. Meanwhile, the lowest 10th percentile of wage earners (people making about $12 an hour) have benefited from more than twice that gain in wages—a 6.6% wage increase over just the last year. That’s equivalent to a roughly $1,500 raise for someone earning less than $25,000 a year.
No, Wages Are Not Rising Because of Minimum Wage Laws | Adam Michel
------------------
Here, the US economy is delivering even better results. Since 2016, weekly earnings for the bottom 10% of full-time workers have grown more than 50% faster than for workers at the median. The unemployment rate for adults without a high school degree is further below its long-term average than the rate for college-educated workers.
Don’t believe the naysayers: Capitalism is healthier than it appears | Michael R Strain
------------------
In combination with low inflation on the items that matter, U.S. wage growth is exceeding 3.5 percent. Subtract the inflation of 1.7 percent from the wage growth of 3.5 percent and you get Real Earning Growth of +1.8 percent.
…”From August 2018 to August 2019, real average hourly earnings increased 1.8 percent, seasonally adjusted.”… (BLS Link)
Any time worker earnings grow faster than the rate of inflation the lifestyle of the middle-class improves. People simply have more money to save, spend or upgrade. It’s simply common sense economics.
Best “Recession” Ever – MAGAnomics: Inflation 1.7%, Wage Growth +3.5%, Real Worker Earnings +1.8%…
-----------------
With a tight labor market we are seeing the natural upward pressure on wages. In the past four months wage rates have increased 4.2% [Table B-3], and from the employment data it appears those large wage incentives are bringing people back into the workforce.
August Report: 130,000 Jobs Added, Annual Wage Growth 3.2%, Three Month Wage Growth 4.2%…