According to the Bureau of Labor Statistics, real wages have gone down for practically every occupation over the past year (Q3 to Q3). Here are the numbers for full-time workers:
But wages have not gone down for every race and sex:
Overall, wages for full-time workers have gone down about 1.4% over the past year.
Finally! Something for white men to whine about.
Something else. Forgiving college loans is racist against white folks.
and that's why we have to raise the Fed rate to stop this wage price spiral!!!
/s
that is why innumeracy and half-understanding leads to foolish commentary.
Real wages deflated for inflation by very arithmatic do not reflect nominal wage inflation.
Wage-price spirals (or wage price interaction for inflation) are nominal non-deflated phenomena.
Drum banging on and on about real wages (deflated for inflation) indicating that there is not inflation is.... a rather boggling miscomprehension and sheer illiteracy.
What this does reflect is the impact and pain that inflation has - essentially always across all economies - on wage earners as wage rises rarely effectively keep up with inflation. And thus why Left or Right government, any government presiding over accelerating inflation pays a political price.
Contra foolish Leftie cant, it is not the wealthy that suffer from inflation - asset prices normally keep up much better than wages (that's why in hyperinflationary situations it is a virtual rule that people flee money for holding assets/goods) - it is wage earners.
And this is also why rather than foolishly engaging in inflation denialism in various forms, the Democrats should have broadly embraced a response.... instead of replicating your errors from the 1970s virtually to the T.
(and to avoid the idiot knee-jerking, none of this means the foolish political right wing inflation scare mongering of the previoius 3 decades was justified. As broken clocks, they only happen to be correct right now by accident)
White people doing too much pot smoking.
Or something. I make joke.