Via Zero Hedge, while the economy has been adding jobs of late, and the unemployment rate has come down slightly, but it’s hard to call it an economic recovery when wage growth has been underwhelming at best.
Even more depressing is that, when inflation is factored in, American wage growth is actually going backward. We’re all getting poorer:
Why aren’t wages keeping up with inflation? Well, for one thing, inflation has been pretty awful. For another, there’s a lot of uncertainty in the business world. Between the uncertainty of our increasingly temporary tax code (it’s hard to make long-term decisions when your year-to-year tax burden hinges on Congressional in-fighting) and the impending tax and regulatory shock and awe of Obamcare, businesses just aren’t feeling confident in raising their overhead in the form of raises or hiring.
As a result, we all suffer. But hey, “tax hikes for the rich” or something.