{"id":1590095,"date":"2022-08-05T06:19:19","date_gmt":"2022-08-05T10:19:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1590095"},"modified":"2022-08-05T06:19:43","modified_gmt":"2022-08-05T10:19:43","slug":"most-americans-saw-their-incomes-shrink-in-july","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/most-americans-saw-their-incomes-shrink-in-july\/","title":{"rendered":"Most Americans Saw Their Incomes Shrink in July"},"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\">16<\/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%2Fmost-americans-saw-their-incomes-shrink-in-july%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=1590095&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--><div><\/div>\n<p><em>By Casey Harper (The Center Square)<\/em><\/p>\n<p><span data-preserver-spaces=\"true\">New jobs data shows that a significant number of Americans saw their income shrink last month even as prices continue to rise.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Morning Consult released new economic\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/morningconsult.com\/2022\/08\/03\/pay-losses-july-labor-market-slowdown\/?utm_source=marketing_email&#038;utm_medium=email_cta&#038;utm_campaign=mcei_content_launch_prospects&#038;utm_content=2208_2&#038;mkt_tok=ODUwLVRBQS01MTEAAAGGA04cc2ziaa91_4BDJZM9IAhAan1AhsupLXJNgP-9Ev36bhdXH1uknbZM_po5E4SgeZcoSQ_8GHX8PICCrv5thsuAP4561DZWrVOeC-Kd9ray\" target=\"_blank\" rel=\"noopener\"><strong>data<\/strong><\/a><span data-preserver-spaces=\"true\">\u00a0showing that the number of Americans reporting lost pay or income rose from 11 to 11.7% in July.<\/span><\/p>\n<p><strong>RELATED: <a href=\"https:\/\/thepoliticalinsider.com\/biden-treasury-sec-yellen-claims-economy-is-in-new-phase-of-recovery\/\" target=\"_blank\" rel=\"noopener\">Biden Treasury Sec. Yellen Claims Economy Is In New Phase of \u2018Recovery\u2019<\/a><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe U.S. labor market remains strong, but its best days may now be in the rearview mirror,\u201d said John Leer, chief economist at Morning Consult. \u201cWith the Fed raising interest rates aggressively to combat high inflation, businesses are slowing hiring and expansion plans, releasing steam from a red-hot labor market.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWhether that slowdown is swift and severe enough to tip the economy into a recession remains to be seen,\u201d Leer added.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Poorer Americans have been hit hard.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAs of the week ending July 23, 13.9% of adults from households earning less than $50,000 reported losing pay in the previous week, an increase of 1.3 percentage points from a series low at the beginning of June,\u201d Morning Consult said. \u201cLost pay has also been concentrated in certain sectors, including leisure [and] hospitality and construction.\u201d<\/span><\/p>\n<div id=\"subscribe\" class=\"email-signup inarticle\">\n<h4>Support Conservative Voices!<\/h4>\n<h5><strong>Sign up to receive the latest<\/strong> political news, insight, and commentary delivered directly to your inbox.<\/h5>\n<\/div>\n<p><span data-preserver-spaces=\"true\">The decline in pay is ill-timed as the latest inflation data shows prices continue to rise.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The U.S. Bureau of Labor Statistics\u2019 latest inflation data showed a 9.1% rise in consumer prices, more than anticipated and a sign that price hikes are not slowing down.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The U.S. Bureau of Economic Analysis released its Personal Consumption Expenditure last week, a key marker of inflation, which showed significant price increases as well, particularly for food and energy costs.<\/span><\/p>\n<p><strong>RELATED: <a href=\"https:\/\/thepoliticalinsider.com\/democrats-to-raise-taxes-by-nearly-750-billion-during-recession-record-inflation\/\" target=\"_blank\" rel=\"noopener\">Democrats Reach Deal To Raise Taxes By Nearly $750 Billion<\/a><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFood prices increased 11.2 percent and energy prices increased 43.5 percent,\u201d the BEA said. \u201cExcluding food and energy, the PCE price index increased 4.8 percent from one year ago.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Morning Consult conducted 20,000 interviews weekly to collect the data in July.<\/span><\/p>\n<p><em>Syndicated with permission from The Center Square.<\/em><\/p>\n<div>\n<p><strong>Now is the time to support and share the sources you trust.<\/strong><br \/>The Political Insider ranks #3 on <a href=\"https:\/\/blog.feedspot.com\/political_blogs\/\">Feedspot\u2019s<\/a> \u201c100 Best Political Blogs and Websites.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Casey Harper (The Center Square) New jobs data shows that a significant number of Americans saw their income shrink last month even as prices continue to 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