American Business Suffers as Wages Continue to Skyrocket

A couple of days ago I posted a chart showing the real increase in wages for American workers over the past year. Unfortunately, I could only draw the chart through May because we didn’t yet have the CPI inflation numbers for June. But today they’re out, so here’s an updated version of the wage chart:

The American worker has really been kicking ass over the past year! It’s no wonder so many companies are having a hard time filling all their positions. They’ve obviously done everything they conceivably can to attract workers off the sidelines, but for some reason workers just aren’t responding. What more can the business community possibly do?

POSTSCRIPT: I just know that some smart-aleck is going to complain that I’m showing only wages, and we really need to look at total compensation. Fine. Here it is through the first quarter of 2018:

I guess that shows me. The ECI is up a whopping 0.5 percent over the past year. Employers are really taking it in the shorts, aren’t they?

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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