Colin norris
Platinum Member
- Apr 25, 2021
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- #61
Its one of the problems with a buoyant economy and we have to thank Joe for that. He's so good he's iver done it.Wages for Americans are actually declining when accounting factoring in raging inflation
The tightest labor market in years is fueling rapid wage gains for most workers – the only problem is that red-hot inflation is quickly eroding those increases.
The Labor Department reported on Friday that average hourly earnings for all employees actually declined 1.7% in January from the same month a year ago when factoring in the impact of rising consumer prices. On a monthly basis, average hourly earnings increased by just 0.1% in January, when factoring in the 0.6% inflation spike.
MOST SMALL BUSINESSES SINCE 1974 ARE HIKING PRICES TO OFFSET INFLATION
By that measure, the typical U.S. worker is actually worse off today than they were a year ago, even though nominal wages are rising at the fastest pace in years. That's because inflation is also surging: The government reported Thursday morning that the consumer price index (CPI) rose 7.5% in January from a year ago, marking the fastest increase since February 1982, when inflation hit 7.6%.
The CPI – which measures a bevy of goods ranging from gasoline and health care to groceries and rents – jumped 0.6% in the one-month period from December.
https://www.foxbusiness.com/economy/...ans-wage-gains
the whole nation is seeing the blue state business model does not work
These good economic figures never happened under trump.