{"id":1109785,"date":"2021-12-11T18:29:23","date_gmt":"2021-12-11T23:29:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1109785"},"modified":"2021-12-11T18:29:24","modified_gmt":"2021-12-11T23:29:24","slug":"as-inflation-soars-americans-real-wages-decline","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/as-inflation-soars-americans-real-wages-decline\/","title":{"rendered":"As Inflation Soars, Americans\u2019 Real Wages Decline"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fas-inflation-soars-americans-real-wages-decline%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1109785&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Americans\u2019 take-home pay is eroding due to high inflation.<\/p>\n<p>On Friday, the Bureau of Labor Statistics <a href=\"https:\/\/www.dailywire.com\/news\/breaking-inflation-skyrockets-to-6-8-higher-than-expected-fastest-rate-in-nearly-40-years\">announced<\/a> that consumer price inflation has reached a 6.8% rate \u2014 the largest year-over-year increase since June 1982, as well as the sixth straight month in which inflation has remained above 5%.<\/p>\n<p>The agency also <a href=\"https:\/\/www.bls.gov\/news.release\/realer.htm\">revealed<\/a> that \u201creal average hourly earnings\u201d \u2014 which consider the impact of inflation upon purchasing power \u2014 fell by 0.4% between October and November. Though nominal average hourly earnings rose by 0.3%, the effects were overshadowed by a 0.8% increase in consumer prices.<\/p>\n<p><a href=\"https:\/\/fortune.com\/2021\/12\/10\/inflation-wages-low-income-workers\/\">Fortune<\/a> explained:<\/p>\n<p>U.S. workers at private companies earned an average of $31.03 per hour in November, according to the Bureau of Labor Statistics. Over the past year, workers\u2019 hourly pay has increased by 4.8%.<\/p>\n<p>But when you factor in inflation, real wages are down 1.9% over the past year, according to the BLS. From October to November, real average hourly earnings for all employees decreased 0.4%. Going back to the start of the pandemic, real wages have declined roughly 1% since February 2020, Furman estimated.<\/p>\n<p>As summarized by <a href=\"https:\/\/www.cnbc.com\/2021\/12\/10\/inflation-surged-to-its-fastest-pace-since-1982-last-month.html\">CNBC<\/a>, some of the largest consumer price increases between November 2020 and November 2021 apply to goods such as:<\/p>\n<p>Gas \u2014 58.1%Used vehicles \u2014 31.4%Hotels \u2014 25.5%Meat, poultry, and fish \u2014 13.1%Furniture and bedding \u2014 11.8%New vehicles \u2014 11.1%Domestic services \u2014 10.2%Jewelry \u2014 6.7%Electricity \u2014 6.5%Food \u2014 6.1%Apparel \u2014 5%Milk \u2014 4.6%Fruits and vegetables \u2014 4%<\/p>\n<p>A recent poll <a href=\"https:\/\/www.dailywire.com\/news\/new-poll-77-of-americans-say-inflation-is-impacting-their-lives-majority-blame-biden\">found<\/a> that more than three quarters of Americans say inflation is impacting their lives. Yahoo News \u2014 which sponsored the survey alongside YouGov \u2014 reported:<\/p>\n<p>In addition to the nearly 8 in 10 Americans who now say inflation is affecting them personally (37 percent \u201ca great deal\u201d; 40 percent \u201csome\u201d), more than 6 in 10 (61 percent) say the same about \u201cshortages of goods and services\u201d (17 percent \u201ca great deal\u201d; 44 percent \u201csome\u201d).<\/p>\n<p>A majority of Americans (51 percent) also say they\u2019re worried they \u201cwon\u2019t be able to afford what they need during the holidays due to inflation,\u201d while 45 percent say they\u2019re worried they \u201cwon\u2019t be able to get what they need\u201d due to shortages.<\/p>\n<p>Combined with persistent supply chain bottlenecks and labor shortages, the rising price levels reflect poorly upon the Biden administration\u2019s domestic agenda. Indeed, the White House is now allegedly&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/white-house-working-with-reporters-to-reshape-coverage-of-economic-woes-under-biden-as-approval-sinks-report\">pushing<\/a> news outlets to provide more favorable economic coverage.<\/p>\n<p>\u201cThe White House, not happy with the news media\u2019s coverage of the supply chain and economy, has been working behind the scenes trying to reshape coverage in its favor,\u201d said CNN\u2019s media newsletter. \u201cSenior White House and admin officials \u2014 including NEC Deputy Directors David Kamin and Bharat Ramamurti, along with Ports Envoy John Porcari \u2014 have been briefing major newsrooms over the past week, a source tells me.\u201d<\/p>\n<p>\u201cThe officials have been discussing with newsrooms trends pertaining to job creation, economic growth, supply chains, and more. The basic argument that has been made: That the country\u2019s economy is in much better shape than it was last year. I\u2019m told the conversations have been productive, with anchors and reporters and producers getting to talk with the officials.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Americans\u2019 take-home pay is eroding due to high inflation.On Friday, the Bureau of Labor Statistics announced that consumer price inflation has reached a 6.8% rate \u2014 the largest year-over-year increase since June 1982, as well as the sixth straight month in which inflation has remained above 5%.The agency also revealed that \u201creal average hourly earnings\u201d \u2014 which consider the impact of inflation upon purchasing power \u2014 fell by 0.4% between October and November. Though nominal average hourly earnings rose by 0.3%, the effects were overshadowed by a 0.8% increase in consumer prices.Fortune explained:U.S. workers at private companies earned an average of $31.03 per hour in November, according to the Bureau of Labor Statistics. Over the past year, workers\u2019 hourly pay has increased by 4.8%.But when you factor in inflation, real wages are down 1.9% over the past year, according to the BLS. From October to November, real average hourly earnings for all employees decreased 0.4%. Going back to the start of the pandemic, real wages have declined roughly 1% since February 2020, Furman estimated.As summarized by CNBC, some of the largest consumer price increases between November 2020 and November 2021 apply to goods such as:Gas \u2014 58.1%Used vehicles \u2014 31.4%Hotels \u2014 25.5%Meat, poultry, and fish \u2014 13.1%Furniture and bedding \u2014 11.8%New vehicles \u2014 11.1%Domestic services \u2014 10.2%Jewelry \u2014 6.7%Electricity \u2014 6.5%Food \u2014 6.1%Apparel \u2014 5%Milk \u2014 4.6%Fruits and vegetables \u2014 4%A recent poll found that more than three quarters of Americans say inflation is impacting their lives. Yahoo News \u2014 which sponsored the survey alongside YouGov \u2014 reported:In addition to the nearly 8 in 10 Americans who now say inflation is affecting them personally (37 percent \u201ca great deal\u201d; 40 percent \u201csome\u201d), more than 6 in 10 (61 percent) say the same about \u201cshortages of goods and services\u201d (17 percent \u201ca great deal\u201d; 44 percent \u201csome\u201d).A majority of Americans (51 percent) also say they\u2019re worried they \u201cwon\u2019t be able to afford what they need during the holidays due to inflation,\u201d while 45 percent say they\u2019re worried they \u201cwon\u2019t be able to get what they need\u201d due to shortages.Combined with persistent supply chain bottlenecks and labor shortages, the rising price levels reflect poorly upon the Biden administration\u2019s domestic agenda. Indeed, the White House is now allegedly\u00a0pushing news outlets to provide more favorable economic coverage.\u201cThe White House, not happy with the news media\u2019s coverage of the supply chain and economy, has been working behind the scenes trying to reshape coverage in its favor,\u201d said CNN\u2019s media newsletter. \u201cSenior White House and admin officials \u2014 including NEC Deputy Directors David Kamin and Bharat Ramamurti, along with Ports Envoy John Porcari \u2014 have been briefing major newsrooms over the past week, a source tells me.\u201d\u201cThe officials have been discussing with newsrooms trends pertaining to job creation, economic growth, supply chains, and more. The basic argument that has been made: That the country\u2019s economy is in much better shape than it was last year. I\u2019m told the conversations have been productive, with anchors and reporters and producers getting to talk with the officials.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1109785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1109785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1109785"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1109785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1109785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1109785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1109785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}