Posted on 08/10/2016 6:53:32 AM PDT by Prov1322
Federal data released Aug. 9 shows that Americans’ wages are dropping again, seven years after President Barack Obama declared the economy had recovered from the property-bubble — and three months before the 2016 election. The dramatic drop was buried in an Aug. 9 report by the Bureau of Labor Statistics, which said that officials have radically revised their prior claim that wages grew 4.2 percent in the first quarter, from January to March.
“Real hourly compensation decreased 0.4 percent after revision, rather than the previously-published increase of 4.2 percent,” the BLS admitted. Compensation also fell another 1.4 percent in the second quarter, from April to June, the BLS admitted in the same report. That’s 2 percent drop in wages since December.
Pay shrank 0.3 percent in 2013, rose a mere 1.1 percent in 2014, but rose a promising 2.7 percent in 2015, according to the BLS.
The wage drop is a potential p.r. problem for Obama, who has been touting the apparent rise in wages since officials reported that wages grew 2.7 percent during 2015.
In June, Obama cited the mistaken 2016 wage-growth claim while arguing the economy was finally helping ordinary Americans. “Let’s get wages rising faster,” Obama declared in a speech at Concord Community High School, Elkhart, Indiana.
(Excerpt) Read more at breitbart.com ...
“Real hourly compensation decreased 0.4 percent after revision, rather than the previously-published increase of 4.2 percent,” the BLS admitted.
In the real world, CEO/CFO types get to go to jail for this type of fraudulent data release.
C'mon January, 2017!
Thanks Barry.
The goal is to put everyone in a situation where they can’t support themselves so that they have to get on some form of public assistance and are beholden to the party of government.
More corruption of the career bureaucracy. Wages are declining because we have a surplus of labor. Yet, we continue to bring in 1.1 million legal immigrants a year along with 640,000 guest workers annually. It is insane.
The problem is this will likely appear nowhere but Breitbart, Drudge and Rush Limbaugh.
So far, you have made the most relevant point of the day!
Oops, we missed it by 4.6%! Not to worry, we’ll call it a rounding error.
Gee, was it “unexpected”?
Yikes! This needs to be brought up and out big time.
What ever happened to the Porkulus money and shovel ready jobs???
And summer of 2010 was recovery summer per Obama. Did the recovery ever happen?????
Spread the truth!
Shhh!
You’re not supposed to remember all that baloney, let alone bring it up.
/sarc
Wow! This is a big adjustment down. Combine this with productivity in the cellar, it’s not good out there.
True, and beyond that to eliminate the private sector (particularly small businesses, which can’t be run like government agencies as large corporations can). The “new normal” will have the government determining who works and where; they already play a big role in who gets higher education.
Very creepy; oddly enough, the illegals are the last “free” people, unbound by any bureaucracy or taxation at all...
Just competing with the third world....it’s only fair./s
Will someone from the Trump campaign please read this to Mr. Trump? This is what he should be hammering home, instead of giving the Democrat media a chance to claim he made a threat against Hillary’s worthless life yesterday. People pay attention when it’s their paychecks he’s talking about….and the MSM won’t bother quoting him on these stats/ so he and Pence better get on the stick and do it.
Is it any wonder we have the lowest labor participation rates in 38 years.
Not only are we importing people we are exporting wealth creating manufacturing jobs.
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