Saturday, November 25, 2017

The Trump Economy: Show Us the Money, Donald!

If I were The Donald, I'd shut up for a while about the economy.  It's always nice to see the Dow and S&P move up, and unemployment shrink a bit, sure.

But where is the money?

...inflation-adjusted American wages are now performing so badly that just remaining flat month-to-month could justify a passing grade. For in October, real hourly pay in both the private sector overall and in manufacturing floundered below recovery era peaks they’d reached in July (resulting from painfully slow progress over those eight years). In industry, moreover, after-inflation wages fell on a year-on-year basis for the first time since September, 2014....

...since the recovery technically began, in mid-2009, inflation-adjusted private sector wages are up 4.36 percent.

...In manufacturing, price-adjusted pay flat-lined sequentially for the second straight month. Since July, they’re off by 0.82 percent. And since last October, real manufacturing wages have fallen by 0.46 percent – much worse than their 1.87 percent improvement between October, 2015 and October, 2016.

So during the current economic recovery so far, constant dollar manufacturing wages have advanced by only 1.21 percent....

We are not impressed.

By the way, did you know that 8 of the 9 highest-production automotive plants in the USA are foreign-owned?  Ford has one in that group and GM has none, unless you count Silao, Mexico as "in the USA."


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