The Biden administration is working hard on its evident goal of Build Back Poorer. Real average weekly earnings for Americans dropped for the 26th straight month in May. Thank you, Joe Biden.
CNSNews/MRCTV’s Craig Bannister reported June 13 on newly released data from the U.S. Bureau of Labor Statistics. As usual under the Biden presidency, it wasn’t good news. Based on the Bureau’s data, the real average weekly earnings for May 2023 went down, once inflation is factored in. That’s a straight 26 months of decrease.
Real average hourly earnings increased a seasonally adjusted 0.2% from May 2022 to May 2023. But, since the average number of hours worked per week fell by 0.9%, real wages earned were 0.7% lower.
Real average weekly earnings declined 0.1% from April to May of this year, Bannister noted. While real average hourly earnings did go up in terms of the numbers, he added that there was “a 0.3% decrease in the average number of hours” worked every week. Thus, overall, American workers lost money.
We know this is a deliberate economic crisis, because the Biden administration has continued its damaging policies in the face of a starkly obvious economic downturn. Even if the Biden administration did not deliberately sabotage the economy to begin with, it has certainly continued its policies while knowing how bad they are.
Compared to the same month year-earlier, the change in real average earnings has now been negative for more than two years. March of 2021, the third month of Joe Biden’s presidency, was the last time real average weekly earnings rose (up 4.1%) over a 12-month period.
Coincidentally—or not—March 2021 was the same month that Biden signed his $1.9 trillion “stimulus” bill, Bannister said. By April 2021, there was a 1.4% drop in real average weekly wages. And they’ve continued to drop ever since.
MRCTV also tweeted out a graphic illustrating just how bad inflation—which is hitting real average earnings so hard—is under Biden versus Donald Trump. “Everything costs more under Biden no matter how many times he tries to say it doesn’t,” MRCTV insisted. The graphic showed that the average inflation during the Trump presidency was only 1.9%, whereas, under Biden, average inflation is a whopping 6.4%.
Everything costs more under Biden no matter how many times he tries to say it doesn't. pic.twitter.com/eaGLqxIZjj
— MRCTV (@mrctv) June 13, 2023
Unfortunately, it doesn’t look as if real average weekly earnings will go up anytime soon, if inflation continues. And it’s American workers, not rich Democrat politicians, who will suffer.
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