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American Real Wages Continue To Decline
#1
According to the jobs report that was released on Friday, average hourly earnings for American workers increased 2.7 percent from July 2017 to July 2018.

But that increase lags behind the increase in prices, which went up by 2.9 percent from June 2017 to June 2018, the most recent period for which prices data is available.
That means that the economy Trump described on Tuesday as “the best economy in the history of our country” has actually left workers with less money in their pockets than they had a year ago.

Workers are feeling the pinch even after Trump and Republican members of Congress passed tax cuts for the rich late last year that they promised would juice the economy for the middle-class. As ThinkProgress detailed in June, six months after those tax cuts were approved, real average hourly earnings were actually down.

Instead of trickling down to workers like Republicans promised, benefits from the tax cut bill have largely enriched shareholders in the form of stock buybacks.

Beyond wages, Friday’s jobs report shows job growth at its slowest rate in five years.

https://thinkprogress.org/trump-august-2...dd53c3ff7/

Despite Trump's and the Republican party's best attempts, American real wages continue to fall to meet the global real wage of about $2 a day.

Can you live on $2/day?  If not, you better start making plans and preparations to do so right now.
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#2
Everyone can get a job but no one can get a raise in America

https://finance.yahoo.com/video/everyone...00604.html
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#3
Workers Hardest Hit by Recession Are Joining in Recovery

One reason for the lack of big raises is that a substantial number of workers remain on the sidelines, including the less-skilled ones who are now gradually coming back, said Simona Mocuta, senior economist with State Street Global Advisors.

https://www.nytimes.com/2018/08/03/busin...-2018.html
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#4
A key reason for low wage growth: An insightful view from someone who lives it.



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#5
https://www.breitbart.com/california/201...s-falling/

https://www.breitbart.com/big-government...s-workers/
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#6
[Image: tt_c181019.jpg?resize=807x807]
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#7
Quote:Obama’s Economic Adviser Contradicts Nancy Pelosi: Inequality is Falling
6 Aug 2018863

Last week, House Minority Leader Nancy Pelosi slammed the positive July jobs report by declaring that President Donald Trump and the Republicans had given a tax cut to the rich “while working Americans are denied the bigger paychecks they deserve.”
But Jason Furman, chair of the White House Council of Economic Advisers from 2013 to 2017 under President Barack Obama, writes that “in the past few years, wage growth has actually been stronger at the bottom than at the top,” contrary to what Pelosi claims.

Furman, writing at Vox.com, argues that the more rapid increase in wage growth during the 1990s boom had to do with “both high productivity growth and the large increase in inequality that led to very rapid increases in wages at the very top.” In contrast, he notes that today “inequality is actually falling in some dimensions and rising more moderately in other dimensions.” He adds: “It is a mistake to think that the deck is so stacked against workers that any gains in efficiency will just go to increased corporate profits.”

Quote:Trump’s Tight Labor Market Increases Wages for Small Business Workers

American workers employed at small businesses across the United States are benefitting strongly with increased wages as President Trump clamps down on immigration.

The Trump economic model has been to tighten the labor market — partially through increased immigration enforcement—by asking businesses to hire Americans who have been marginalized from the workforce rather than imported a foreign underclass of cheap labor.
This economic model has secured new job opportunities and higher wages for blue collar American workers as there is less downward pressure on their hourly salaries from mass unskilled, illegal immigration.


Better post a 'toon quick Aqua   Big Grin Cool
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#8
(10-29-2018, 04:11 AM)andrew_o Wrote:
Quote:Obama’s Economic Adviser Contradicts Nancy Pelosi: Inequality is Falling
6 Aug 2018863

Last week, House Minority Leader Nancy Pelosi slammed the positive July jobs report by declaring that President Donald Trump and the Republicans had given a tax cut to the rich “while working Americans are denied the bigger paychecks they deserve.”
But Jason Furman, chair of the White House Council of Economic Advisers from 2013 to 2017 under President Barack Obama, writes that “in the past few years, wage growth has actually been stronger at the bottom than at the top,” contrary to what Pelosi claims.

Furman, writing at Vox.com, argues that the more rapid increase in wage growth during the 1990s boom had to do with “both high productivity growth and the large increase in inequality that led to very rapid increases in wages at the very top.” In contrast, he notes that today “inequality is actually falling in some dimensions and rising more moderately in other dimensions.” He adds: “It is a mistake to think that the deck is so stacked against workers that any gains in efficiency will just go to increased corporate profits.”

Quote:Trump’s Tight Labor Market Increases Wages for Small Business Workers

American workers employed at small businesses across the United States are benefitting strongly with increased wages as President Trump clamps down on immigration.

The Trump economic model has been to tighten the labor market — partially through increased immigration enforcement—by asking businesses to hire Americans who have been marginalized from the workforce rather than imported a foreign underclass of cheap labor.
This economic model has secured new job opportunities and higher wages for blue collar American workers as there is less downward pressure on their hourly salaries from mass unskilled, illegal immigration.


Better post a 'toon quick Aqua   Big Grin Cool

An alternative explanation that I have heard, Andrew, is that minimum wage increases are responsible for lessening inequality and increasing the wage gains of workers at the bottom of the income ladder.
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#9
Hey I'm not an economist.

I'm just quoting "Jason Furman, chair of the White House Council of Economic Advisers from 2013 to 2017 under President Barack Obama" who I suspect is an economist.  

Wink
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#10
Even Andrew should be able to understand this one.


[Image: ?url=https%3A%2F%2Fstatic.politico.com%2...ewsday.jpg]
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