Americans' Real Wage Growth Slumps Most In 6 Years

And just like that, a million hopeful voices cried out in horror...

Real average hourly earnings shrank by the most since 2012 in July...

For years hope has been soaring that household income will rise any minute now... and despite two years of disappointment, they remain optimistic...

 

But unemployment is so low? Full-employment? Wage pressure? Hmm, maybe that dismal participation rate is more important that we thought...

Just keep believing America!!

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Comments

Vlad the Inhaler Fri, 08/10/2018 - 10:58 Permalink

Fed mandate is for "full employment" and "price stability".  You want "wage growth" then you're going to have to get rid of the "price stability" part or at least the arbitrary 2% inflation number, because the numbers show that wage growth rises with CPI up until about 6% inflation.  The Fed cutting inflation short over numerous cycles is a major reason for low wages.

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In reply to by Vlad the Inhaler

Pollygotacracker Justin Case Fri, 08/10/2018 - 11:19 Permalink

Unions, except for government or quasi-government workers, are few and far between. There is no wage growth because millions are working under the table. That is my best guess. I was a union member (ATU) for twenty years. I am grateful for that as I did earn a decent living with health care and a defined benefit pension. Workers must negotiate as a group and be prepared to go out on strike if they want management to buckle. Some jobs you can negotiate, but not many. The boss pleads poverty every time.

In reply to by Justin Case

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MusicIsYou Fri, 08/10/2018 - 11:07 Permalink

I know this article is buIIshit, because there has not been real wage growth in over 50 years, unless you mean someone changes jobs or gets a promotion, but that is not wage growth, that's a promotion. The fact is there has been no wage growth ever since the U.S became a Socialism in the 1960's. But the fact is that minimum wage today acquires 87% less than 50 years ago. And $30k per year in 1975 acquired more in 1975 than the equivalent of $137k per year acquires today. So shove your lies up yourass. So today homelessness is off the charts and climbing.

Balance-Sheet Cruel Aid Fri, 08/10/2018 - 13:37 Permalink

Fiat currency is DESIGNED and managed to decline in value with a target of 2.5-3% decline per year. This makes it easier to retire old debts and issue new, higher levels of debt. So $100.00 in 2018 USD is now $3.93 in 1913 USD.

in Year 2118 the same cycle would repeat itself.

Keep in mind that you are dead at both ends of this. You were dead in 1913 and will be dead in 2118 so the useful life of any given US dollar is adequate for personal use.

In reply to by Cruel Aid

Blankfuck Fri, 08/10/2018 - 11:21 Permalink

Huh? Wage growth? Not for the FED RESERVE AND THOSE BANKSTER FUCKTARDS AND CEOS!

ONLY WAY TO CORRECT THIS IS TAKE UP WAR WITH THEM AND ELIMINATE THESE ELITE.

OH WELL, TOO MANY PEOPLE EATING POPCORN IN FRONT OF THEIR NETFLIX ANN I PHONES-NEVER HAPPEN

moonmac Fri, 08/10/2018 - 11:21 Permalink

Exactly what happens when massive deflationary forces are countered with unprecented money printing. Cost of living goes up and wages stagnate. Groundhog Day for 30+ years.

Balance-Sheet moonmac Fri, 08/10/2018 - 13:50 Permalink

People cannot compete with machines once machines are competent to enter some area of operation. Further human employment then becomes marginal. If an employer insists on keeping machine out and raising wages in real terms=bankrupt.

People desiring higher incomes must, as individuals, seek higher skill levels OR move partly onto the land acquiring food and energy through direct labor.

In reply to by moonmac

DipshitMiddleC… Fri, 08/10/2018 - 11:42 Permalink

ive noticed that some of the contract jobs ive come across are dropping their hourly rate quite a bit. what used to be $30 an hour is more or less $25 or so sometimes less.

 

i just wish this fucking thing would collapse already. there is no future unless you're one of (((them))) and are trading a big account at a hedge fund or something.

woody188 Fri, 08/10/2018 - 11:45 Permalink

This is what open borders does.

We should start an illegals only football league. Season tickets will only set you back a c-note and the players will average $19,000 a year. It's just economics. See how the NFL likes that. Bet we'd get a wall in less than 2 years.