According to the December report from the Federal Reserve Bank of Atlanta and despite what we’re told by the democrats in politics and those disguised as journalists, the wages of America’s low-income workers are rising faster than the democrat’s designated villains: America’s top-earners. The report contains a graph that shows the median wage growth for the bottom 25% of workers hit 4.5% for the 12-month period ending in November.
According to CBS News, this exceeded the 2.9% gain in median earnings for the top 25% of earners. CBS also said, “With unemployment at a 50-year low and the minimum wage rising in states and cities across the country, employers are now opening their wallets to attract low-wage employees.”
And this cannot be attributed to that age-old stalking horse, mandated increases in the minimum wage by the central planning bureaucrats. John Robertson, a senior policy adviser in the Atlanta Fed’s research department said, “The increased tightness of labor markets, or some other factor than hikes in state minimum wages, is playing a role in pushing up the pay for those in lower-wage jobs.”
After conducting a poll CNBC said, “Every economic indicator in the poll of 800 Americans throughout the country is at or near a post-recession high. Half of all Americans judge the economy as good or excellent, the only time the percentage has been above 50 for two-straight quarters in the 11-year history of the poll. In addition, 38 percent expect the economy to improve in the next year, the second-highest number since the Great Recession. And 41 percent of homeowners expect the value of their homes to increase in the next year, the highest mark since 2007.”
According to US News and World Report, “Approval of President Donald Trump’s handling of the economy has risen 7 percentage points since the impeachment inquiry began, reaching its highest level in a year.” The paper also quoted a CNBC poll saying, “According to the poll, the president’s net approval on economic issues rebounded from a minus-8% in September, the first negative of his presidency, to plus-9% in December. The 17-point jump is good for Trump, who ran on promises to improve the economy and who has continuously touted strong job numbers as part of his reelection campaign.”
These figures are higher than Trump’s overall approval rating. This may indicate that record-low unemployment levels, stable gas prices, a roaring stock market even in the face of a hostile and abusive media could still help get the president across the finish line in November. Gallup Polling puts it this way, “Americans are more upbeat about their personal finances today than at any time in the past 10 years, with 49% saying they are financially better off than they were a year ago. This is up from 44% who felt financially better off at the same time last year and from a low of 23% in 2009.”
Some attribute this rise in wages for the lowest income bracket to be a result of President Trump’s immigration policies. When there’s less low-skilled foreign competition against Americans through increased interior immigration enforcement these most vulnerable Americans experience a labor market that now resembles the labor market of top-tier workers. Nick Bunker an economist with Indeed.com pointed this out when he told the Wall Street Journal, “A strong labor market makes the bargaining power of lower-paid workers more like the labor market higher-wage workers experience during good times and bad.”
John Binder of Breitbart observes, “For the first year in decades, the U.S. economy has tipped toward American workers rather than employers in terms of the labor market. Today, due to less foreign competition, workers have more chances to seek out the highest-paying job. For decades, it was employers who would bid on workers.” Now its employers trying to attract workers.
On a recent broadcast of the New York City-based radio show “Cats Roundtable,” White House’s Office of Trade and Manufacturing Policy Director Peter Navarro said “Under President Donald Trump, everybody who wants a job can get a job.”
The current casting call of presidential wannabees tries to gain center stage by outbidding each other to buy our votes; “I’ll give everyone a thousand dollars a month and free healthcare!” “I’ll give every retiree $250 extra per month, free healthcare for everyone, and forgive all student loans!” “I’ll give free healthcare for everyone, free college, forgive all student loans, and get the banks to write off debts.” Blah, blah, blah, ad infinitum.
Meanwhile, President Trump with little fanfare and totally ignored by the Corporations Once Known as the Mainstream Media brings home the bacon. This may be bad news for the bi-coastal elites but it’s good news for those of us out here in fly-over country thinking about paying the rent and putting food on the table.