> Wages and salaries of private-sector workers, rose 2.9% in June from a year earlier, matching the pace seen in the prior quarter.
Adjusted for a 1.9% inflation, the wages and salaries increase is a whopping 1%. So if you are making $ 100,000 / year (which is possibly a lot higher than most people, esp. non-techies are making), the annual increase is about $1,000. Take taxes away and it's about $600 to $700.
Usually for these things, I find going to the original source is much more informative than relying on the media. Here [1] is the report from the BLS. It does mention distribution. You can see it for each profession group here [2].
The group "management, business, and financial" saw a 2.5% increase. Sales and office occupations saw a 3.5% increase. Service occupations saw a 3.3% increase. "Accommodations and food service" saw a 3.1% increase. Anyhow, plenty of other information available as well but this definitely looks very good.
Sure, this is by profession group/sector, do they have statistics that are by income? ie what share of the increase went to each quintile, for example.
The number isn't inflation adjusted. The increase is 2.8, inflation was 2.9.. and the BLS has constant dollar version of this same report, and it indicates pay decreased by -0.1%.
https://www.bls.gov/web/eci/ecconstnaics.pdf
WSJ decided to run with the non-inflation adjusted numbers, and then wrote an entire article saying workers got a pay increase... which they didn't. This is cherry picking at its finest. I'm actually flagging this.
In the article it says that one of the reasons for the increase is due to upwards inflationary pressures and says 2.2% inflation.
The fact that we’ve had such tepid wage increases for the past decade that a measly .6% growth is the best in a decade can be viewed as pathetic in a vacuum or as the “biggest pay increase in nearly a decade”. Both are true, but overall I’d still say it’s good news in an area which has been extremely bleak.
Once again, the Wall Street Journal is pushing GOP talking points with half the story, the number isn't adjusted for inflation, so it's actually a slight pay decrease due to inflation.
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The number cited is 2.8%. CPI over past 12 months is also 2.8%...
I might be wrong about how this is measured, though.
Adjusted for a 1.9% inflation, the wages and salaries increase is a whopping 1%. So if you are making $ 100,000 / year (which is possibly a lot higher than most people, esp. non-techies are making), the annual increase is about $1,000. Take taxes away and it's about $600 to $700.
Nothing to be bragging about IMO.
https://fortunedotcom.files.wordpress.com/2017/09/income_cha... for reference from a few years ago, it would be shocking if things have changed
The group "management, business, and financial" saw a 2.5% increase. Sales and office occupations saw a 3.5% increase. Service occupations saw a 3.3% increase. "Accommodations and food service" saw a 3.1% increase. Anyhow, plenty of other information available as well but this definitely looks very good.
[1] - https://www.bls.gov/news.release/eci.nr0.htm
[2] - https://www.bls.gov/news.release/eci.t05.htm
It's just crumbs! https://www.washingtontimes.com/news/2018/jan/11/nancy-pelos...
So, congratulations, Trump has accomplished inflation with nominal wage growth almost keeping up with it.
And if you use the constant dollar report from the bls, it says wages decreased by -0.1% (for all civilian workers): https://www.bls.gov/web/eci/ecconstnaics.pdf
So according to the BLS, you've actually overstated the increase.. there was no increase in inflation adjusted pay.
Core CPI was 2.2% (this is usually what the fed prefers) https://fred.stlouisfed.org/series/CPILFENS
I got 2.8% for CPI total (it looks like this is what your website is using) https://fred.stlouisfed.org/series/CPIAUCSL
Agreed. For decades, wages have not outpaced inflation for the majority of workers. Don't expect the trend to reverse any time soon.
http://www.pewresearch.org/fact-tank/2014/10/09/for-most-wor...
https://www.epi.org/nominal-wage-tracker/
[0]https://www.bls.gov/opub/ted/2018/consumer-prices-up-2-point...
https://www.frbatlanta.org/chcs/wage-growth-tracker.aspx?pan...
WSJ decided to run with the non-inflation adjusted numbers, and then wrote an entire article saying workers got a pay increase... which they didn't. This is cherry picking at its finest. I'm actually flagging this.
The fact that we’ve had such tepid wage increases for the past decade that a measly .6% growth is the best in a decade can be viewed as pathetic in a vacuum or as the “biggest pay increase in nearly a decade”. Both are true, but overall I’d still say it’s good news in an area which has been extremely bleak.