Inflation Plummeting Rapidly

[Oddball]

Will you be giving back your wage increases too?

Low-wage workers have seen historically fast real wage growth in the pandemic business cycle: Policy investments translate into better opportunities for the lowest-paid workers

What this report finds: Between 2019 and 2022, low-wage workers experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real wage growth at the lower end of the wage distribution was exceptional, significantly...

www.epi.org

workers over the last three years​

Our analysis focuses on changes in real wages between 2019 and 2022. In this report, we largely ignore what happened in the intervening years—2020 and 2021—given labor market dynamics that caused dramatic swings in job losses and gains.1

We divide the wage distribution into roughly five groups to uncover recent wage trends at different wage levels. Figure A displays wage growth at the 10th percentile (“low-wage”), the average of the 20th–40th percentiles (“lower-middle-wage”), the average of the 40th–60th percentiles (“middle-wage”), the average of the 60th–80th percentiles (“upper-middle-wage”), and the 90th percentile (“high-wage”) using Current Population Survey (CPS) Outgoing Rotation Group microdata (EPI 2023a). See the appendix for more information about why and how we selected these data measures and their robustness to our conclusions throughout this report.

Real wage growth at the 10th percentile was exceptionally strong—even in the face of high inflation​

Between 2019 and 2022, hourly wage growth was strongest at the bottom of the wage distribution. The 10th-percentile real hourly wage grew 9.0% over the three-year period. When we look across the wage distribution, we see wage growth declining for each successive wage group until we reach the high-wage group. Compared with the 9.0% wage growth at the bottom, growth was less than half as fast for lower-middle-wage workers (3.9%) and less than one-third as fast for middle-wage workers (2.4%) between 2019 and 2022. Upper-middle wages grew even more slowly at 1.8% over the three-year period, while the 90th-percentile wage grew 4.9%—faster than the middle wages, but not as fast as the 10th-percentile wage.

Real wages have dropped for at least 24 straight months, liar.

 

[Synthaholic]

 

[Independent thinker]

Extremely Great inflation data this morning.

PCE is the FEDs preferred inflation gauge and it came in great across the board, increasing a meager 0.1% MoM and only 3.8% YoY, which is very close to the FED acceptable range.

Core PCE came in at just 0.3% MoM, which is getting very close to the FED's acceptable range.

Inflation is easing and the main causes, Putin's war and supply chain issues, are easing big time.

Commodities surged 80-100% in weeks, after the Putin war. Nat gas surged from $3 to $10+ and all commodities surged massively, that will cause inflation. The supply chain has finally been fixed and covid gone from china, and inflation is easing because of it.

PPI inflation has plummeted and is in deflation indicating more easing coming !

Personal income rose 0.4%, in another big positive.

Expect more easing of inflation, but continued strength in the economy with the best labor market in US history, and still a large amount of job openings with good pay supporting Americans. Build Back Better will also keep the labor market very strong.

Economic Calendar - Investing.com

Economic calendar: get indicators in real-time as economic events are announced and see the immediate global market impact - Including previous, forecast and actual figures.

www.investing.com

Hunter, Hunter, Hunter, there you go again.

President touts 'Bidenomics' though new poll shows just 34% approve his handling of the economy

President Joe Biden had a tough sell Wednesday, trying to convince voters that the U.S. economy is flourishing.

apnews.com

Americans struggle with 24 straight months of effective pay cuts under Biden

House Speaker Kevin McCarthy argued that President Biden’s policies have fueled the alarming trend.

nypost.com

 

[Synthaholic]

I was at a dealership today looking for a vehicle. The lot was empty. The salesman said that there is a shortage of computer chips.
I don't remember any chip shortage under Trump. So why is there a chip shortage? Is this a backdoor way to force EVs on people?

p.s. Biden looked horrible today trying to explain why his promise to forgive student loans was illegal, just like Nancy Told him

Holy shit, you're an ignoramus.

It's one of the main reason why there was bipartisan support for the CHIPS Act.

Read something other than the gateway pundit, and try to learn about the world, you stupid motherfucker.

 

[Synthaholic]

Even New Jersey!

 

[Synthaholic]

THANK YOU JOE BIDEN!!!!

 

[Flash]

Triggered.
Over Biden's booming economy and the best labor market in US history with easing inflation, and much lower deficits than Trump's.

That fucking piece of shit that stupid inbred idiots like you allowed to steal an election has fucked up this country big time. No only massive inflation, letting millions of Illegals flood in, running up the cost of energy, putting stupid affirmative action dumbasses in government positions, higher taxes, lower family income, dismal economic growth but also destroying the military.

Recruitment is down 30% because White men won't join the military because it is too damn woke. The veteran parents are telling their sons not to join when that moronic Potatohead is the Commander in Chief.

The Military Recruiting Crisis: Even Veterans Don’t Want Their Families to Join

The Pentagon is scrambling to retain the main pipeline for new service members as disillusioned families steer young people away. This article is part of a series examining the problems confronting America’s military.

www.wsj.com

 

[yidnar]

THANK YOU JOE BIDEN!!!!


View attachment 800328

AAA Gas Prices

 

[Lesh]

Inflation is still higher than the highest rate during Trump which was 2.95%.

Not by much

 

[Orangecat]

Sucks for you. I just paid $2.97, which is down from the $3.17 it's been for weeks.

Meh, I can afford it. It was just much better during Trump’s term. Where do you live?

 

[Jim H - VA USA]

Extremely Great inflation data this morning.

PCE is the FEDs preferred inflation gauge and it came in great across the board, increasing a meager 0.1% MoM and only 3.8% YoY, which is very close to the FED acceptable range.

Core PCE came in at just 0.3% MoM, which is getting very close to the FED's acceptable range.

The Fed’s Inflation Target: Why 2 Percent?

The FOMC targets an inflation rate of 2 percent. What does it mean to have an inflation target? And why target a positive number and not zero?

www.stlouisfed.org

Inflation twice as high as targeted is nothing to celebrate.

 

[Synthaholic]

AAA Gas Prices

Why are you posting gas prices when I just posted gas prices?

 

[Synthaholic]

Meh, I can afford it. It was just much better during Trump’s term. Where do you live?

You were posting to make a comment on Bidens economy, not your personal ability to put gas in your car.

Bidens economy is fantastic. Every indicator is great. They've had to keep raising interest rates to try to slow down the economy!

 

[Orangecat]

You were posting to make a comment on Bidens economy, not your personal ability to put gas in your car.

And some retard replied with “sucks for you”, which brought it into the realm of my personal experience. Do try to keep up.

 

[gipper]

Putins actions helped raise fuel prices, which definitely helped inflation spike.

You mean Biden’s war that he provoked.

 

[gipper]

That fucking piece of shit that stupid inbred idiots like you allowed to steal an election has fucked up this country big time. No only massive inflation, letting millions of Illegals flood in, running up the cost of energy, putting stupid affirmative action dumbasses in government positions, higher taxes, lower family income, dismal economic growth but also destroying the military.

Recruitment is down 30% because White men won't join the military because it is too damn woke. The veteran parents are telling their sons not to join when that moronic Potatohead is the Commander in Chief.

The Military Recruiting Crisis: Even Veterans Don’t Want Their Families to Join

The Pentagon is scrambling to retain the main pipeline for new service members as disillusioned families steer young people away. This article is part of a series examining the problems confronting America’s military.

www.wsj.com

To say nothing if the enormous sums wasted on Ukraine. A war Biden provoked.

 

[LA RAM FAN]

Why do people always take the wankers bait and reply to him,he is just seeking attention,if people did not feed the troll his threads would die down quickly.notice how he never addresses facts on the corruption of the Dems when proven wrong,don’t feed the troll. Same with fort ford Indiana..

 

[gipper]

Sucks for you. I just paid $2.97, which is down from the $3.17 it's been for weeks.

I paid $1.89 for diesel summer of 2019. I knew it wouldn’t last.

 

[jc456]

Extremely Great inflation data this morning.

Hahaha hahaha hahaha hahaha

 

[Leo123]

Not by much

Overall much higher that's only one data point. Many folks now have mortgages at 1% to 3% which reflects the low inflation during Trump. They're not going to refinance and spend more money on upgrades etc. while paying double interest rates even if the interest rate happens to be lower now than 8% which Biden ushered in. People won't want to put their homes on the market either. Biden screwed US big time and he doesn't care or maybe even know.