Saturday, February 27, 2021

Americans Made Big Wage Gains Under Trump

The spikes reveal the Trump gains at the 2019 end of the EPI chart, released February 24 in the group's annual "The State of Working America 2020 wages report."

"Men at the middle and bottom of the wage distribution saw their wages rise in 2019: a 2.6% increase at the 50th percentile and a striking 5.7% increase at the 10th percentile, along with a 4.2% increase at the 20th percentile," according to the organization's 2019 yearly report, The State of Working America 2019.".

Wages rose rapidly during the 2020 coronavirus crash, in large part because many lower-wage workers lost their jobs and were pushed out of the annual wage calculations.

Wages grew largely because more than 80% of the 9.6 million net jobs lost in 2020 were jobs held by wage earners in the bottom 25% of the wage distribution.

The exit of 7.9 million low-wage workers from the workforce, coupled with the addition of 1.5 million jobs in the top half of the wage distribution, skewed average wages upward.

The 2019 wage gains were also aided by raises in minimum wages in many states.

The enforced wage gains did cut jobs because the economy was booming, and Trump largely blocked business demands for more legal immigration.

https://www.breitbart.com/economy/2021/02/26/report-americans-made-big-wage-gains-trump/ 

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