Posted on 01/12/2022 2:44:40 PM PST by rktman
Record high job openings and extremely low employment have not stopped workers from losing ground due to inflation running at a 39-year high, data from the Labor Department showed Wednesday.
Real average hourly earnings–meaning, earnings after inflation–were down 2.4 percent, seasonally adjusted, from December 2020 to December 2021. The change in real average hourly earnings combined with no change in the average workweek resulted in a 2.3-percent decrease in real average weekly earnings over this period.
Inflation-adjusted hourly wages for production and nonsupervisory workers fell 1.9 percent from December 2020 to December 2021. Weekly wages fell two percent.
December’s year-over-year figure was the third-worst in records going back to 2007. The worst was April of last year, followed by May.
(Excerpt) Read more at breitbart.com ...
And that is only part of his misery!!
You mean money isn’t really free like President Retard told us?! 🤪
I kept telling people if you raised the minimum wage everything would simply go up in price and you wouldn’t be any better off, and possibly even worse.
And... it happened, exactly like I said it would.
If you give out free money to everyone... everyone has more money to compete for goods with.. Psst.. ever heard of supply and demand? well.. giving out all that cash.. increased demand, sucked up supply and drove up prices!
But hey! on the bright side the retarded among us think they are getting richer!
MAHAHHAHA
We’re not? :-}
Watch how big and fast the COLA raises come for gibberment drones.
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
Yeah, well my retirement plan “forgot” to include COLA added in.
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