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If this includes benefits it's actually a loss - as health care costs are up double digit in the last year. Most prices (food, energy, CPI) are up avg of about 2.2%.
I'm not sure if either include interest rates - mortgages are up at least 1% or more (25% - from 4 to 5%).
Yeah, it's hard to see how that is helping the average joe or jane much - just like the 3% YTD rise in the DOW isn't......
It's better than a depression but certainly not something that is going to lift people from poverty or make it possible for many semi-skilled people to get a living wage.
This does not even figure on the ripple effect of the vast tax cuts to corporations...who may have passed on a crumb to their employees. That money is from debt and deficit....so in a "booming" economy it would be tough to consider it as created wealth.
Except for the fact its from the wall street journal. Don't let your TDS get in the way of the facts though.
Any news like this (so long as it's accurate) is good. The other commenters are right, though, that wage growth really does need to outpace inflation over the course of years to make decent headway on playing catch-up with the quality of life the typical American can afford on the typical American salary.
But we have had quite a few years of stagflation since about 2000, where wages were flat while certain costs (particularly health care and housing) were skyrocketing, so this is better news than we've had many years this century.
There was already a thread on this a couple days ago, not to mention already a thread on the ADP jobs numbers today (your other thread). It helps to look through the threads to see if something was already posted.
Housing prices are up.
Housing starts are WAY down.
"U.S. new-home groundbreaking and permits fell in June to the slowest paces in nine months, as higher mortgage rates and elevated costs "
I think most folks put too much faith in a number and less in what people actually do in real life. It all depends on where you sit. For me, it's good news that housing prices are up - my real estate is worth more. But I'm not the guy that the Trumpies elected to help them....I'm the "10%".
But all the BS about making things better for the "forgotten" person - well, housing starts and such things indicate that may not be the case.
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