"If The Fool persists in his Folly he will become wise." - William Blake
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US wages aren’t growing when adjusted for inflation, new data finds
Wages aren’t growing when adjusted for inflation, a new report released Tuesday showed. According to the Labor Department, median weekly earnings fell 0.6% in inflation-adjusted dollars in the second quarter, compared to the same time period of 2017. That’s now the third straight quarter where inflation has outpaced wage growth. The issue of inflation-adjusted wages stagnating came up in the hearing with Federal Reserve Chairman Jerome Powell on Tuesday. He was asked by Sen. Sherrod Brown, the Ohio Democrat, whether the typical worker really is better off than he or she was a year ago. Powell said the typical ... (full story)
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