For the longest time I’ve been seeing liberals try to tear down the economic growth since the 2016 election by citing stagnant wage growth.
This administration likes to brag about their “success” with the economy.— Our Revolution (@OurRevolution) July 29, 2018
Workers’ wages are stagnant.
CEO pay is skyrocketing. Corporate stock buybacks are plentiful.
Who is this economy working for? It’s damn sure not working for working people. https://t.co/fkgs1pRaVb
Wow, 440 retweets.
Trump announced quarter GDP is 4.1. The question is who’s benefitting by this number. Not the average worker, that’s for sure. Wages are still stagnant. All the money from the #Taxscam is remaining in the pockets of the top 1%. Winning.— Vicky 🌊Read the Mueller report (@SDISBEAUTIFUL1) July 27, 2018
Doesn't matter if politicians are Republicans or Democrats, telling workers who aren't seeing raises and are struggling to pay bills that the economy is great never works. We are seeing that play out now with Trump/GOP as wages are frozen plus gas prices and inflation have jumped— (((DeanObeidallah))) (@DeanObeidallah) July 27, 2018
Well they’re all gonna shut up real sooper quick after this latest report:
Compensation for workers rose to a nearly 10-year high in the second quarter as inflation pressures continued to percolate in the U.S. economy.
The employment cost index increased 0.6 percent for civilian workers in the three-month period ending in June, according to a Bureau of Labor Statistics release Tuesday. That brought the 12-month rate up to 2.8 percent, the highest level since 2.9 percent in the third quarter of 2008, amid the financial crisis and the Great Recession.
I was beginning to wonder about this since the unemployment rate was so low, it followed that a tighter employment market should drive wages up eventually.
And they did, eventually:
“With the labor market tightening, stronger wage pressures should continue to feed through into higher inflation over the rest of this year,” Andrew Hunter, U.S. economist at Capital Economics, said in a note.
The index draws from a sample of 27,200 observations of some 6,600 private businesses as well as 8,000 observations from 1,400 government offices.
Wages and salaries rose 0.5 percent for the quarter and 2.8 percent for the 12-month period, while benefits costs increased 0.9 percent and 2.9 percent, respectively.
Private industry compensation was up 2.9 percent, a substantial rise from the 2.4 percent recorded as of June 2017. Government compensation increased 2.3 percent for the period, which actually was a pullback from the 2.6 percent gain recorded in June 2017.
Now, if Democrats were actually pro-worker, they’d be happy and get all #MAGA over this right? LOL!! Yeah no.