Discussion How did median wage skyrocket after Trump took office? Also, consumer price index keeps rising.

[Amol S.]

Median usual weekly earnings

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over (FRED:LES1252881600Q) — Historical Data and Chart — TradingView

Free economic data, indicators & statistics. Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over from FRED.

www.tradingview.com

Consumer price index seems to be rising endlessly.

Consumer Price Index for All Urban Consumers: All Items in U.S. City Average (FRED:CPIAUCSL) — Historical Data and Chart — TradingView

Free economic data, indicators & statistics. Consumer Price Index for All Urban Consumers: All Items in U.S. City Average from FRED.

www.tradingview.com

 

[kitkat22]

I would like to see a bar graph distribution of wages/salary of each class of worker over time. This is median of all salaried workers. I have a feeling the distribution of the wealthy skews the data a fair amount.

 

[SmCaudata]

It was climbing at a fairly linear rate since 2013. That was pre-Trump. Incidentally those wages were rising when all the blue collar people were complaining about Obamas "economy. " Further indicating that most people that vote are clueless about the truth.

 

[Dave_5k]

Median usual weekly earnings
View attachment 52420

Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over (FRED:LES1252881600Q) — Historical Data and Chart — TradingView

Free economic data, indicators & statistics. Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over from FRED.

www.tradingview.com

I'd surmise that the apparent spike in "median" wages corresponds directly with ~5% of the nation getting laid off with the pandemic - as the vast majority of those layoffs were below median wage workers. Which automagically shifts the median wage upwards.

New improved method to improve median wages! Fire all of the minimum wage workers...

 

[Fenixgoon]

I'd surmise that the apparent spike in "median" wages corresponds directly with ~5% of the nation getting laid off with the pandemic - as the vast majority of those layoffs were below median wage workers. Which automagically shifts the median wage upwards.

New improved method to improve median wages! Fire all of the minimum wage workers...

that spike is right on april 2020 - when everyone got laid off. so yup, it's just a truncation of the bottom, as opposed to real, meaningful gains.

btw, trump took office in january 2017. as the graph shows, not a ton of movement in the first 2 years.

 

[Jaskalas]

Looking at that data, I don't see anything meaningfully change until the pandemic introduces some chaos via a temporary spike.

 

[sportage]

That train set was in motion long before Trump. During Obama, Obama tried to get or force a minimum wage of $11 an hour. Obama and Bernie Sanders brought much attention to the issue of poor wages, low wages, and pushing for a living wage. Well, congress failed to increase the minimum wage which was no surprise, however…. business got the message. Employer’s got the message. Business and employers were “shamed” into the reality that employees needed and deserved a better wage and thus wages went up beginning from the last administration of Obama thru the new administration of Trump. And so, Donald Trump had nothing to do with the rise in wages. In fact, Donald Trump did nothing during his time in office to push for higher wages, and the rise in wages was the sole reaction from business and employer’s having being shamed by Obama and Bernie Sanders. Give credit where credit is due….

 

[Jaskalas]

In fact, Donald Trump did nothing during his time in office to push for higher wages, and the rise in wages was the sole reaction from business and employer’s having being shamed by Obama and Bernie Sanders. Give credit where credit is due….

Republican propaganda would tell you Trump cut regulation! He changed things!!!

Data suggests Trump cause no change in the trend.

 

[ElFenix]

we had 10 years of economic expansion along with a fed that wasn't trying to kill wage growth in the name of stopping inflation.