A picture is worth a thousand words
New jobs report indicates Trump’s ‘best economy in history’ isn’t all it’s cracked up to be
https://thinkprogress.org/trump-august-2018-jobs-report-hourly-earnings-cf8dd53c3ff7/
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According to*the jobs report that was released on Friday, average hourly earnings for American workers increased 2.7 percent from July 2017 to July 2018.
But that increase lags behind the increase in prices, which*went up by 2.9 percent from June 2017 to June 2018, the most recent period for which prices data is available.
That means that the economy Trump described on Tuesday as “the best economy in the history of our country” has actually left workers with less money in their pockets than they had a year ago.
And*Trump’s trade war*means the rate of price increases isn’t likely to abate anytime soon. As*Business Insider details, the price of consumer applications shot up after Trump announced tariffs on washing machines in January, and many other examples since then could be cited:
Since the Commerce Department’s recommendation to impose steel tariffs came on February 16, the price of steel has soared. According to CME Group, the cost of US Midwest Domestic Hot-Rolled Coil Steel — a proxy for domestic steel prices — jumped from $694 just before the recommendation to $907 on Thursday, a 30% increase…
Canadian lumber tariffs were first imposed in April 2017, with additional rounds coming later in the year. The price of lumber used in housing has jumped and is*starting to filter down to homebuyers. The National Association of Home Builders, the largest US industry group,*warned in April that these tariffs*were putting a cost squeeze on builders and making new homes pricier.
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It is like they want to exactly hit the mark where wages don't go up one iota all the while the rich are making so much more every year.