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Democrats and the media want us to believe that Bidennomics is working, but recent analysis tells a different story.
A recent Daily Call analysis found that Mr. Bidet’s inflation is eating into Americans’ wages.
Average hourly wage in January 2021: $29.93
Average hourly wage in January 2024 (adjusted for inflation): $29.29
The Daily Caller Foundation reported:
According to Bureau of Labor Statistics (BLS) data analyzed by the Daily Caller News Foundation, price increases due to inflation accounted for the largest increase in Americans’ wages relative to the costs of inflation since President Joe Biden took office. It’s making a difference.
Average hourly wages increased modestly from $29.93 per hour in January 2021 to $34.55 per hour in January 2024, but when adjusted for inflation since the start of the Biden administration, the average hourly wage was only $29.29 per hour, or $5.26 per hour. equivalent to a dollar difference. , according to BLS data. Inflation has risen rapidly under the Biden administration, with prices rising a total of 18% since he took office in January 2021.
“The inflation tax has devastated American consumers,” EJ Antoni, a fellow at the Heritage Foundation’s Grover M. Herman Center on the Federal Budget, told DCNF. “Simply put, families are paying more and getting less. Businesses are in a similar position, paying more for all their inputs. The beneficiary is the government. Everyone should think of these high prices as taxes paid to the treasury. Inflation is a transfer of wealth from the people to the government, and the definition of a tax is no more. There is nothing suitable for it.”
The situation becomes even more dire for struggling Americans when factoring in employee hours, with the average number of hours worked per week dropping from 34.9 hours in January 2021 to 34.1 hours in January 2024. . Employers are resorting to reducing working hours and adding part-time workers. -As business costs rise, hours worked increase, resulting in Americans earning less per week.
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