It's Official: You are better off now than you were under Trump

LMFAO! Define "socialists" for us, please.

 

Your assertions are somewhat right. I looked to the data in the link in post #98. From April 2021 through January 2023 inflation exceeded wage growth. From March 2023 through August 2024 wage growth exceeded inflation.

I calculated an average annualized wage growth of 5.2% since Feb 2021 (the beginning of Biden’s presidency) until now and an average annualized inflation rate of 5.3% over the same period. We need to keep in mind that these are averages. The experiences of any given worker could be better or worse.

You are correct that wage growth for the bottom quartile exceeded that of the other quartiles. However, it was not significantly greater than inflation. We need to remember that bottom quartile also includes people who are unemployed. They did not benefit from wage growth.

What’s concerning is that in 2024 the lowest quartile has lost ground in wage growth compared to 2019, whereas all the other quartiles have positive gains in real wage growth. Similarly, non-white workers have also seen wage growth losses compared to 2019.

According to the federal reserve Bank of Minneapolis:

“On the question of who is seeing real wage growth, most of the notable changes in relative wage growth following the pandemic have faded. Gains that boosted relative wages for lower earners, job changers, and those outside metro areas have receded. Wage growth rates for men, non-White workers, and those with lower earnings now fall well short of their 2019 paces. The result is that today’s growth in real wages is no longer closing the gap between low and high earners. Many others may be feeling the effects of purchasing power that is growing more slowly.”

https://www.minneapolisfed.org/article/2024/is-wage-growth-sustainable-evidence-from-real-wage-growth-across-groups#:~:text=After some real losses during,level of around 2.1 percent.

See charts 6 and 7 in particular. By the way, it shows 2019 was a great year for real wage increases.

 

Chart 7 in that paper shows substantial real wage growth (i.e., above inflation) for the bottom quartile in every single time period since late 2013. Second lowest quartile only very briefly dropped below zero during the height of inflation and has been above as a whole for the time period from 2021-2024. Basically, only the top half saw any sort of measured decline, on average, for any substantial length of time.

 

That’s what I said. And why I directed you to that chart.

 

The facial reactions to a kamala word salad...priceless

 

I don’t understand your response here ? Are you mocking me for some reason . I was trying to be empathetic with you . What am I not getting here?

 

Republican memes are so cool, they always make Dems seem awesome. If true ..