Biden Tells Workers To Put Plunging Real Pay In ‘Perspective’
View Source | October 5, 2022 12:04 pm
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- With annual consumer price inflation currently at 8.3%, compared to 1.4% in the month Biden was inaugurated, the average American wage earner has suffered a 5% cut in real pay since January 2021.
- That amounts to a wage decline of $2,726 a year for a full-time worker! Over the past year alone, wages have declined by 2.8%.
- That represents a sharp reversal from the last year of the Trump Administration, when real hourly pay grew by 3.8%.
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