Wages aren't growing when adjusted for inflation, new data finds [View all]

[TomCADem]

While Trump takes a "victory lap" and Republicans prepare to give another huge tax cut to the rich and explode the deficit, the middle class is continuing to take body blow after body blow during the so-called Trump-boom. Oh well, Trump will just blame it on immigrants and trade.

https://www.marketwatch.com/story/wages-arent-growing-when-adjusted-for-inflation-new-data-finds-2018-07-17

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Wages aren’t growing when adjusted for inflation, a new report released Tuesday showed.

According to the Labor Department, median weekly earnings fell 0.6% in inflation-adjusted dollars in the second quarter, compared to the same time period of 2017.

That’s now the third straight quarter where inflation has outpaced wage growth.

The issue of inflation-adjusted wages stagnating came up in the hearing with Federal Reserve Chairman Jerome Powell on Tuesday. He was asked by Sen. Sherrod Brown, the Ohio Democrat, whether the typical worker really is better off than he or she was a year ago.