Don’t be fooled: Working Americans are worse off under Trump

[SavannahMann]

The low unemployment will result in higher wages as employers have to sweeten the deal to get the employees they need. Supply and demand.

 

[Lakhota]

The low unemployment will result in higher wages as employers have to sweeten the deal to get the employees they need. Supply and demand.

Well, Trump could also do another trillion dollar tax cut - or just print more money.

Trump told Gary Cohn to 'print money' to lower the national debt, according to Bob Woodward's book

 

[easyt65]

'Don’t be fooled: Working Americans are worse off under Trump'

Yes, snowflake...Pelosi already told us how the strongest economy in decades, the lowest unemployment in decades, the lowest unemployment for minorities in recorded history, more full-time jobs, higher pay, & bonuses are horrible for our country and Americans...

 

[EvilCat Breath]

All those stupid people thinking because they got a good job and salary increases they are better off. How dare they? They are only as well off as Democrats tell them how well or worse off they are.

 

[Lakhota]

All those stupid people thinking because they got a good job and salary increases they are better off. How dare they? They are only as well off as Democrats tell them how well or worse off they are.

Fine, let's hear some Republicans start campaigning on it for the midterms.

 

[GoDemocratic]

Sorry you are worse off. Wonder why? I'm NOT.

You probably do money laundering or something like that.

 

[GoDemocratic]

All those stupid people thinking because they got a good job and salary increases they are better off. How dare they? They are only as well off as Democrats tell them how well or worse off they are.

Fine, let's hear some Republicans start campaigning on it for the midterms.

Yeah, seems like the WH is micrp-managing this investigation. You know how good that's going to be right?

 

[WheelieAddict]

Republicans are increasing the deficit through the roof.

 

[Kat]

Sorry you are worse off. Wonder why? I'm NOT.

You probably do money laundering or something like that.

Well that was a brilliant stupid personal attack.

 

[gipper]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?

The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

Big Ears enriched his wealthy donors for eight years, but you were silent. What changed?

 

[gipper]

Republicans are increasing the deficit through the roof.

They are following BO’s economic plan that you liked.

 

[WheelieAddict]

Republicans are increasing the deficit through the roof.

They are following BO’s economic plan that you liked.

Nope its the republican plan. Stop blaming others and grab ya boot straps.

 

[Windparadox]

`
Such stats NEVER mention "benefits." Insurance, vacation, holidays, etc. So what if you make a few bucks more when it's all consumed by medical costs, rent/mortgage, utility payments, vehicle costs, etc. This so called better trump economy is a lie for gullible people.

 

[Kat]

`
Such stats NEVER mention "benefits." Insurance, vacation, holidays, etc. So what if you make a few bucks more when it's all consumed by medical costs, rent/mortgage, utility payments, vehicle costs, etc. This so called better trump economy is a lie for gullible people.

Really? You think you are the only one smart enough to look at the big picture? Well, you aren't. We ALL do.

 

[WheelieAddict]

Vote republicans out to stop their big spending and blowing up the deficit.

 

[Lakhota]

Vote republicans out to stop their big spending and blowing up the deficit.

Yep, just like Willie Nelson says: 'Vote 'Em Out'

 

[WheelieAddict]

 

[SweetSue92]

Robert J. Shapiro is the chairman of the advisory firm Sonecon and a senior fellow at Georgetown University’s McDonough School of Business. He was President Bill Clinton’s undersecretary of commerce for economic affairs.

Despite robust economic numbers during the Trump presidency, the American public has seemed curiously unmoved by such good news as thelowest U.S. unemployment level in nearly half a century. Its enthusiasm might have been dampened by this underappreciated economic reality: The typical working American's earnings, when properly measured, have declined during the Trump administration.

As any White House would, the president's economic team touts positive earnings data from the Bureau of Labor Statistics that suggest rising wages and salaries. But the figures are misleading. They focus not on how much an average working person earns but on the "average earnings" of all employed people. In times of rising inequality, employees at the top pull up "average" earnings. Shift to the bureau's earnings data for an average or "median" working person, and most of those claimed gains disappear. Another catch: The data used by the White House doesn't account for inflation. Adjust the median earnings data for inflation, and the illusion of progress evaporates.

Let's examine how much these technical sleights of hand distort what's happening to people's earnings. Using the White House's preferred data,average earnings rose from $894.06 in January 2017 to $937.02 in August 2018. That suggests impressive gains of $42.96 weekly over the 20-month period and $30.02 weekly over the past year. But what about median earnings rather than average earnings — that is, earnings of those in the middle of the distribution?

The Bureau of Labor Statistics has a different database for that view, and its quarter-by-quarter numbers show a very different picture. Median weekly earnings of all workers rose from $865 in the first quarter of 2017 to $876 in the quarter ending June 30, 2018. The typical working American's earnings increased $11 weekly over 18 months, barely more than one-quarter of the economic progress touted by the White House.

Even that modest gain is not very meaningful. The significance of what people earn lies in what they can do with their earnings, and inflation eats away at what any of us can purchase or save. As a result, serious earnings analysis is always framed in inflation-adjusted, or "real," terms. From January 2017 to June 2018, inflation totaled 3.77 percent, while the $11 increase in unadjusted weekly earnings over those 18 months represented gains of 1.27 percent.

To determine how much the real earnings of a typical working American fell during that period, simply adjust the $876 in median weekly earnings in the quarter ending June 30, 2018, for the 3.32 percent inflation that occurred in the 18 months from the first quarter of 2017 to that date. The result: $876 in June 2018 had the same value as $848.20 in January 2017. In real terms, the weekly earnings of a typical working American fell $16.80, or 1.9 percent, during Donald Trump's first 18 months as president.

More: Don’t be fooled: Working Americans are worse off under Trump

Yes, working Americans are worse off under Trump. Median weekly earnings increased more under President Obama. Trump's economic bragging is mostly smoke and mirrors. Oh, and what about the deficit and national debt? Trump just made the rich richer. No wonder Republicans aren't touting the big tax cuts for the upcoming elections.

Lies, all lies.

We have been shown and we understand just how low, the very nature of the despicable depths your party will go to obtain power. Why should we ever believe a single word you say or post, you or your party?

 

[Windparadox]

[Really? You think you are the only one smart enough to look at the big picture? Well, you aren't. We ALL do.

`
Who is "we?" Do you have a mouse in your pocket? Well, "we" never bothers to mention that...and I mean NEVER. The fact that I brought it up and you claimed the royal representation of "we" is testament that such things are always being overlooked by "we". Did I mention "we" also neglects to mention whether these are full-time permanent, part-time temporary or seasonal jobs? Of course not.

 

[Natural Citizen]

Everything is distorted. The market. The GDP. The economy as a whole. Jobs. Everything. It's been that way for decades.