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Inflation outpaces wage growth for over 40% of Americans (www.forbes.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Wage growth for a large swath of Americans is being outpaced by the rate of inflation, according to data from Indeed, which reported people with low- and middle-paying jobs are likely feeling the most pressure.

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[–] jacksilver@lemmy.world 2 points 1 week ago (1 children)

This article is about recent changes, under Biden wage growth was doing a lot better. But that's stagnated under Trump (to my understanding) and is being hurt by rising costs due to tariffs.

Effectively tarrifs and bad trade policy by Republicans is causing inflation that can't be offset by wages (because the costs are caused by taxes making everything more expensive).

[–] SanctimoniousApe@lemmings.world 2 points 1 week ago* (last edited 1 week ago)

It has been shown time and again that administrations under Republican are worse for the economy than when under Democrats. I saw something recently that went back at least four decades showing this pattern, but haven't the time or ability right now to search it up. I'm sure it can be found easily enough.