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US workers see biggest pay, benefit increase in 10 years
Posted on 7/31/18 at 8:33 pm
Posted on 7/31/18 at 8:33 pm
quote:
US workers see biggest pay, benefit increase in 10 years
LINK
U.S. workers saw the largest increase in wages and benefits since September 2008, according to a new report from the Labor Department on Tuesday.
The employment cost index, a gauge of total compensation for civilian workers, increased 0.6% in the second quarter. The cost of pay and benefits jumped 2.8% in the 12-month period ended in June, the highest yearly growth rate in nearly a decade
In a separate report, the Commerce Department said the price index for personal consumption expenditures rose 2.2% year-over-year in June, another sign that inflation is trending higher. The Federal Reserve plans to raise rates two more times in 2018, bringing the annual total to four, to counter rising inflation.
Trump’s economy is deplorable.
3
Posted on 7/31/18 at 9:07 pm to member12
I feel like a lot of this leans on the benefits side of the table.
Posted on 7/31/18 at 9:58 pm to IrishTiger89
Your wages aren’t growing?
Posted on 7/31/18 at 10:00 pm to IrishTiger89
quote:
leans on the benefits side of the table.
Explain?
I am seeing and hearing both myself.
Posted on 7/31/18 at 10:04 pm to member12
Crumbs...
fricking crumbs...
fricking crumbs...
Posted on 7/31/18 at 10:10 pm to IrishTiger89
What's wrong with that if it's part of the total compensation package?
Posted on 7/31/18 at 10:11 pm to RockyMtnTigerWDE
The cost of everything is on the rise significantly (mainly healthcare, family benefits, education credits). Also, this considers averages; not medians (and yeah 50% of all income is concentrated in the top 12% of our population meaning average tells us how people at the 88th percentile are doing). The best measure of true income growth is always using real medians.
Also, real average wages (hourly earnings) have not changed at all from Jun-17 to Jun-18 and is one of the biggest economic issues that the Trump Administration needs to address.
LINK
Also, real average wages (hourly earnings) have not changed at all from Jun-17 to Jun-18 and is one of the biggest economic issues that the Trump Administration needs to address.
LINK
This post was edited on 7/31/18 at 10:16 pm
Posted on 7/31/18 at 10:31 pm to IrishTiger89
quote:Even using medians is misleading, because there are far more people in the top half of households than in the bottom half of households
The best measure of true income growth is always using real medians.
Posted on 7/31/18 at 10:42 pm to IrishTiger89
I am doubling my earning this year
Posted on 7/31/18 at 10:44 pm to IrishTiger89
quote:
real average wages (hourly earnings) have not changed at all from Jun-17 to Jun-18 and is one of the biggest economic issues that the Trump Administration needs to address.
The White House can't do shite about this. Until Congress gets its shite together and lowers the cost of health insurance, wages will not change. No company in their right mind is going to look at premiums increasing 40% annually and decide to cover that and kick an extra 5-10% on hourly.
Posted on 7/31/18 at 10:56 pm to member12
Does this take into account all the deaths from the tax cuts?
Posted on 7/31/18 at 11:03 pm to udtiger
quote:
Crumbs...
fricking crumbs...
The Dems called, they want those crumbs back! Matter of fact they want those crumbs and whatever else you've got.
Your fair share. Their fair share. Everybody's fair share! (Oprah's future campaign slogan)
Posted on 7/31/18 at 11:08 pm to IrishTiger89
quote:
I feel like a lot of this leans on the benefits side of the table
So, even if that is true, is that really bad?
Posted on 8/1/18 at 6:31 am to Sidicous
quote:
The Dems called, they want those crumbs back! Matter of fact they want those crumbs and whatever else you've got.
Posted on 8/1/18 at 6:41 am to member12
Now fellas its based on averages, the same way its been calculated for decades, dont start moving the goalposts and talking about median, top percentile, quantitative easing of the square root of the top 1% of standard deviations or other manipulations to prove a muh wages argument.
Its the final piece of the equation, GDP growth, low unemployment, very good average wage growth, with low inflation.
Thats what happens when the largest business in the world, the US govt....is run by a businessman. Lawyers make laws and regulations, businessmen, well they Make America Great Again.
Its the final piece of the equation, GDP growth, low unemployment, very good average wage growth, with low inflation.
Thats what happens when the largest business in the world, the US govt....is run by a businessman. Lawyers make laws and regulations, businessmen, well they Make America Great Again.
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