MAGAnomics – BLS Wage Report – Second Quarter Wage Growth 3.7 Percent Year-Over-Year….

The Bureau of Labor Statistics has presented the data for second quarter (Q2) year-over-year wage growth.  Average weekly wage growth is 3.7% year-over-year.

[Source, BLS release Q2 – Table 2]

With inflation (CPI) averaging 1.8% over the same period this means wages are strongly outpacing inflation and increasing the disposable income of U.S. workers.  This data-set, combined with positive consumer sentiment on job and economic security, bolsters the recent report showing “unanticipated” strength in retail sales.

The data is a reflection of Main Street strength. The job market is hot; wages are rising (3.7%) much faster than inflation (1.8%); the middle class has more disposable income. Hence, retail sales growth is strong at 3.8 percent.

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40 Responses to MAGAnomics – BLS Wage Report – Second Quarter Wage Growth 3.7 Percent Year-Over-Year….

  1. Tiffthis says:

    Someone told me just yesterday that the economy is good because of Obama 🤦🏼‍♀️ I think even the drive byes have dropped that argument by now. I’m lost trying to understand how Californians think. Lol

    Liked by 6 people

  2. Paul Paul says:

    If I show this to my boss, do you think he’ll give me a raise?

    Liked by 1 person

    • Its 5 O'Clock Somewhere says:

      they aint going up in South Dakota….

      Like

    • GB Bari says:

      You won’t know until you ask.
      But first tell him about the terrific work you do and how much you do beyond that which is expected or required….
      Or how much cost and/or expense dollars you have saved the company by finding more productive ways to get the work done.

      Have your entire presentation planned to take no longer than 3 minutes.
      End with, “I know you would agree that all of that is worth a 10% raise but I’m only asking for 4%.”

      Liked by 3 people

      • ladyliberty11 says:

        The economy is so good that I suggest you just ask for what you think is fair compensation for your labor. Only last month, I asked for a raise and received more than I asked for. True!

        When you can’t replace a good worker and the economy is hot, hot, hot, they will pay more just to keep you! Don’t be shy and, yes, even if your bosses are flaming liberals, it’s the Trump economy that is making them more money than ever before and giving them the wherewithal to pay you more – or lose you to a higher paying job!

        Winnamins for all – bosses and workers! Or, just the magic of Trump!!!!!

        Liked by 2 people

        • Closing Argument for that Raise and/or Promotion:
          • You’re getting higher offers than what you’re asking for.
          • How much time and effort, for how many people, it will take to recruit a replacement.
          • Lost output during the new-hire recruiting and on-boarding and training cycle.
          • What it will cost to recruit and train a replacement.
          • Overtime and Temporary worker pay during the replacement cycle.
          • Not to mention that a Replacement
          … might require Higher Pay and a Hiring Bonus.
          … might require Relocation.

          Liked by 2 people

      • nnkk22 says:

        Do not negotiate with yourself. If you’re worth 10% more, then ask for that and nothing else. You undercut your own position the other way. You can bargain your way to 6 or 8 later.

        Like

        • NYMinuteman says:

          I ran several large departments on Wall Street. I occasionally gave raises to people not in the man bonus pool without their asking, but generally, if you don’t ask you don’t get. If you are a good worker, even in a mediocre market it is almost always far easier and better to pay more to keep someone than replace them. If it’s a skilled job that requires a recruiter or employment agency, it is always easier.

          Have your facts together, and don’t be shy. If you don’t take sick days and work late or weekends, call attention to it. It would take a total ASSHOLE of a boss to fire someone who asks for a raise, so there is nothing to lose or be afraid of. If there is a promotion or better job you think you are qualified for, ask what you need to do to apply for it, or if there is some training you can do to advance.

          All worthwhile employers want motivated workers happy in their jobs. If they can afford to give you a raise they will. Why wait for them to offer?

          I ALWAYS asked for more money. And I ALWAYS got it. Same for my wife. The NY job market is undeniably strong. My daughter got a 30% bump by moving to a new job and they increased their initial offer 20% to get her. 5 years ago, there were zero openings in her field. Now they’re short handed.

          Like

    • Robert Smith says:

      You need to always explain why you are worth it. You also need to know what your alternatives are.

      Like

  3. Perot Conservative says:

    MAGA!!

    Q2 GDP will be interesting. Pass USMCA!!

    Liked by 2 people

  4. Sharpshorts says:

    Great numbers…just as you outlined sundance, what 3 years ago?

    Liked by 2 people

    • sundance says:

      Yeah, however, I’m a little frustrated about this wage phase going forward. The number of illegals entering the U.S. is depressing wage growth more than I anticipated. 3.5 to 4.0 percent was my expectation through this period, with 5 percent in 2020.

      We need natural upward pressure on wages from tight labor. Letting all the illegals enter the U.S. is costing us some wage growth.

      Like

  5. CountryClassVulgarian says:

    …But, but, but, the chant, isn’t that the only news today? I can get off the fainting couch now?

    Liked by 2 people

  6. Max Tadpol says:

    This is FANTASTIC NEWS.

    Liked by 2 people

  7. GB Bari says:

    Terrific!

    Now wondering how the MSM will poop on these great numbers and try to explain this as bad news. Hopefully the President and his team will keep this positive data out in front of the public.

    Like

  8. BoDeen says:

    Black wages increased at twice the rate (6.0%) that white wages did (2.9%). I guess that’s because Trump is racist.

    Liked by 7 people

  9. Alex M says:

    Warren introduces bill to make American Taxpayers buy food for students suffering from ‘Food Insecurity’ on college campuses…. Dems ‘knocking each other over’ to embrace socialism
    https://www.investmentwatchblog.com/warren-introduces-bill-to-make-american-taxpayers-buy-food-for-students-suffering-from-food-insecurity-on-college-campuses-dems-knocking-each-other-over-to-embrace-socialism/

    Like

  10. Sentient says:

    The House passed a $15 minimum wage bill today $15 by 2022, I think). It will die in the senate. Congress only tries to raise the minimum wage when the market has already effectively raised it. In other words, they can only try to raise it because Trump’s economy has raised wages significantly.

    Like

  11. Hispanic Women’s Wages FLAT-LINED.

    … No doubt because INVADING ILLEGALS are under-bidding them!

    POTUS will WIN the Hispanic Vote!

    Liked by 1 person

  12. Joshua2415 says:

    So clearly the fed needs to drop interest rates???

    Like

  13. Joshua2415 says:

    So clearly the fed needs to drop interest rates???

    Like

  14. TreeClimber says:

    My husband is making more than $600 less than the average for his demographic and he’s worth way more… I hope one of these other offers pans out.

    On the other hand, the company he’s currently contracting for is expediting hiring him permanently. Still not offering very much but I plan on suggesting he print this graphic and take with him and ask for a raise…

    Like

    • bobby285 says:

      That’s mostly California and New York. Median means the mid point. When you count the proportion of people in California, New York, and Florida, the rest of the nation can be making half or 1/3 as much. There are so many there with high wages that it drives the median up.

      Like

  15. covfefe999 says:

    I had to laugh when I saw the figures for Asians. The Dems are always crying about “people of color” not making as much as “whites”. Well maybe they should direct their outrage at Asians. lol

    Like

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