Real wage growth has slowed tremendously under Trump compared to Obama: study

[applegrove]

Real wage growth has slowed tremendously under Trump compared to Obama: study

Despite Trump's boasts of a "blue-collar boom," inflation-adjusted wage growth fell in 48 of 50 states

IGOR DERYSH at Salon

FEBRUARY 29, 2020 3:00PM (UTC)

https://www.salon.com/2020/02/29/real-wage-growth-has-slowed-tremendously-under-trump-compared-to-obama-study/

"SNIP.....

President Donald Trump claimed that his economic policies led to a "blue-collar boom" and rising wages at the State of the Union address earlier this month, yet new data shows that inflation-adjusted wage growth has fallen substantially during his first two years in office compared to the end of President Barack Obama's presidency.

Middle-class incomes grew about 5.8% per year during Obama's last two years in office before slowing to 2.7% from during Trump's first two years in office, according to a new analysis by the progressive think-tank Economic Policy Institute (EPI) and investigative news outlet Capital & Main. The income data were adjusted for inflation. All but two states saw real wages fall during that time period.

"Despite what we heard at the State of the Union, the truth is that this economy is not performing well for most Americans," said EPI President Thea Lee. "At this point in the business cycle, wage and income growth for working households should be accelerating, not slowing."

The analysis, based on the latest Census data, showed that nine of the 10 states where Trump beat Hillary Clinton by less than four percentage points saw real wage growth decline and red states like Alaska, West Virginia, South Dakota, and Wyoming also saw significant declines as well. By comparison, just one state saw its real wage growth decline during Obama's last two years in office.

......SNIP"

[Wellstone ruled]

1. Is this why the Orange Anus attacked Obama?

[applegrove]

2. More:

"SNIP.....

Cooper, who led the EPI study, blamed lower unionization rates, the gutting of public safety net programs, and Trump's trade war as factors behind the slowed growth.

"Employers have greater leverage to hold down wages now than they did during previous periods," he explained.

.....SNIP"

https://www.salon.com/2020/02/29/real-wage-growth-has-slowed-tremendously-under-trump-compared-to-obama-study/

[smirkymonkey]

4. So much for that tax cut leading to higher wages.

If anything, it has made companies greedier. They bought back stock and became leaner and meaner. I'm not seeing where the cut made any positive difference in the lives of existing employees or in increased hiring. If anyone has any stats to the contrary, I'd like to see them.