Real Wages Fell For 19th Month In A Row In October

The real wages of Americans fell for the 19th month in a row in October due to the inflation crisis that has originated under Democrat President Joe Biden’s administration.

According to a new report from the Bureau of Labor Statistics, prices rose 0.4% from September 2022 to October 2022. During that time, the real average hourly earnings for all employees fell by 0.1% as inflation outpaced wage growth, according to a separate report from the Bureau of Labor Statistics.

Real wages fell even further over the last year as prices rose 7.7% between October 2021 and October 2022.

“Real average hourly earnings decreased 2.8 percent, seasonally adjusted, from October 2021 to October 2022,” the report said. “The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 3.7-percent decrease in real average weekly earnings over this period.”

Despite prices increasing last month and Americans’ real wages decreasing, Biden responded to the report by claiming it was evidence that his “economic plan is showing results.”

“Today’s report shows that we are making progress on bringing inflation down, without giving up all of the progress we have made on economic growth and job creation,” Biden said. “My economic plan is showing results, and the American people can see that we are facing global economic challenges from a position of strength.”