Federal data released Aug. 9 shows that Americans’ wages are dropping again, seven years after President Barack Obama declared the economy had recovered from the property-bubble — and three months before the 2016 election.
The dramatic drop was buried in an Aug. 9 report by the Bureau of Labor Statistics, which said that officials have radically revised their prior claim that wages grew 4.2 percent in the first quarter, from January to March.
“Real hourly compensation decreased 0.4 percent after revision, rather than the previously-published increase of 4.2 percent,” the BLS admitted. Compensation also fell another 1.4 percent in the second quarter, from April to June, the BLS admitted in the same report. That’s 2 percent drop in wages since December.
Pay shrank 0.3 percent in 2013, rose a mere 1.1 percent in 2014, but rose a promising 2.7 percent in 2015, according to the BLS.
The wage drop is a potential p.r. problem for Obama, who has been touting the apparent rise in wages since officials reported that wages grew 2.7 percent during 2015.
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