President Donald Trump has made numerous promises to aide the “forgotten men and women of America” and even more specifically the stagnant blue-collar industries.
And for the first time in a very long time, wages for blue-collar Americans have risen by 4.3 percent this year, according to Breitbart. If adjusted for inflation, it’s 2.7 percent.
As for white-collar wages, the growth has been significantly slower. Check out the graph below — the red line is blue collar and it’s been on a steady rise ever since Trump was elected, consistently edging out any white-collar increases.
Goldman Sachs’ chief economist Jan Hatzius first discovered the 4.3 percent increase, writing:
It is a myth that the labor market tightening over the past several years has failed to translate into stronger wage growth. True, the year-on-year growth rate of average hourly earnings for all employees has edged down from 3.4% in February to 3.1% now. But our broader wage tracker has continued to trend higher and stands at 3.3% now, up from 3.0% in [the first quarter of 2019].
The acceleration has been even more pronounced among lower-paid workers … And our more comprehensive lower-income wage tracker has accelerated to 4.3% year-on-year, which is not only the fastest pace since the financial crisis but is also above the peak rate of the previous cycle and near the peak rates of the 1990s expansion.
The Trump economy has been booming, with 5 million jobs being created since 2016 and record unemployment across multiple demographics. Additionally, the median household income has increased by around $5,000.
If the president can keep the economy trucking, he can all but guarantee a victory in what will be a hectic 2020 election.
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