Bloomberg: American Workers Just Got a Pay Cut in Economy Trump Calls Great

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Bloomberg: American Workers Just Got a Pay Cut in Economy Trump Calls Great

President Trump has repeatedly claimed that the economy may be the “greatest” it’s ever been.

Unfortunately, that’s not just not true—especially if you’re an hourly worker.

Data out this month shows that while unemployment has fallen, wages for many workers haven’t risen. That’s at least partially because of limits on bargaining power, and probably also because the giant tax cut workers were promised would “trickle down” hasn’t done so.

Americans deserve better.

Read more, and then show your support for Sherrod, who fights for workers’ rights, bargaining power, and fair pay every single day.

Bloomberg: American Workers Just Got a Pay Cut in Economy Trump Calls Great

Reade Pickert – August 10, 2018

Key points:

  • President Donald Trump has presided over an accelerating economy and the lowest unemployment in years, but American workers still aren’t seeing it in their wallets.

  • U.S. average hourly earnings adjusted for inflation fell 0.2% in July from a year earlier, recent reports showed, notching the lowest reading since 2012.

  • U.S. unemployment at 3.9% in July was near a 50-year low and a core measure of inflation that excludes food and energy prices has pushed to 2.4%, the highest reading in almost a decade.

  • But wages are just not keeping up.

  • Experts say part of the reason is likely a lack of bargaining power on the part of U.S. workers.

Read more here.