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?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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