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Title: Americans saw most severe pay cut in 25 years under Biden
Source: [None]
URL Source: https://nypost.com/2022/10/06/ameri ... r-biden/?utm_source=NYPTwitter
Published: Oct 6, 2022
Author: Mike Rivero
Post Date: 2022-10-06 18:10:27 by Horse
Keywords: None
Views: 177
Comments: 1

Americans battered by soaring inflation since President Biden took office have effectively suffered the steepest pay cut in a quarter century, according to data released by the Federal Reserve.

The Federal Reserve Bank of Dallas published new findings which calculated “real wages” — the amount of money Americans take home when adjusted for inflation.

“We find that a majority of employed workers’ real (inflation-adjusted) wages have failed to keep up with inflation in the past year,” the bank said.

“For these workers, the median decline in real wages is a little more than 8.5%.”

The Dallas Fed added: “Taken together, these outcomes appear to be the most severe faced by employed workers over the past 25 years.”


Poster Comment:

the median decline in real wages is a little more than 8.5%.

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#1. To: Horse (#0)

the median decline in real wages is a little more than 8.5%.

That is not near enough because most people still support democrat and liberal republicans that vote with democrats.

DWornock  posted on  2022-10-06   20:38:15 ET  Reply   Trace   Private Reply  


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