Feeling poorer? That's because "real" wages fell last year

[RAB910]

The pay people take home after accounting for inflation fell 1.3 percent last year, a new analysis shows. The findings come a year after President Donald Trump signed the Tax Cuts and Jobs Act, with his administration promising it would deliver "immediate" wage growth to workers.


Yet many workers' wages aren't keeping pace with the cost of living, compensation-data company PayScale found. That's concerning because it indicates more Americans are falling behind -- despite seeing the lowest U.S. unemployment rate in nearly 50 years -- and could struggle to maintain their standard of living when the next recession inevitably rolls around

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https://www.cbsnews.com/news/feeling-poorer-thats-because-real-wages-fell-last-year/

[dlk]

1. Adjusted for Inflation, the Minimum Wage from the 1990s Would be Approximately $22/Hr.

The current federal minimum wage is $7.25/hr. It’s safe to say wages are far too low.