nav-left cat-right

The Economic Data that Explains Voter Attitudes

“Prices rose at their highest clip since 2012 over the past year, the Labor Department reported Thursday. The 2.9 percent inflation for the 12-month period ending in June is a sign of a growing economy, but it’s also a painful development for workers, whose tepid wage gains have failed to keep pace with the rising prices.” Chicago Tribune, last month.

So the economy grew by 4.1%, but everything got 2.9% more expensive (on average; rents are up 3.6%). And wages? Up 2.7%. Yup, the average American worker is falling further behind.

Leave a Reply

Your email address will not be published. Required fields are marked *