In Trump's America, wage growth is getting wiped out entirely by inflation

[DemocratSinceBirth]

U.S. workers' paychecks are worth less than they were a year ago, the Labor Department reported Friday, as modest wage gains have failed to keep pace with inflation.

Inflation rose 2.9 percent from July 2017 to July 2018, the department reported, while average hourly pay increased 2.7 percent over the same period.

The lack of real wage gains comes despite a strong economy, with sustained growth and an unemployment rate of 3.9 percent — one of the lowest levels in decades.

The Labor Department tracks average hourly pay adjusted for inflation, which is known as the “real wage.” According to the federal government, the real average hourly wage was $10.78 in July 2017 and $10.76 in July 2018. Real wages have been on a sharp decline since the start of the year, mainly because energy prices have increased while pay has stayed flat.

https://www.washingtonpost.com/business/2018/08/10/america-wage-growth-is-getting-wiped-out-entirely-by-inflation/?utm_term=.db9af81b426f

[RDANGELO]

1. They say insanity is attempting the same thing over and over

and expecting different results. We have been waiting decades for conventional economic policies to fix the problem of stagnant worker wages.

[BigmanPigman]

2. But what about the trickled down effect from the tax cuts?

This must be Democratic voodoo economics. I have been hearing the same BS for most of my life (38 years since Reagun) and they BS continues.