Americans saw ‘most severe’ pay cut in 25 years under Biden

Posted on AllSides October 6th, 2022
From The Right
Getty Images

Americans battered by soaring inflation since President Biden took office have effectively suffered the steepest pay cut in a quarter-century, according to data released by the Federal Reserve.

Researchers for the Federal Reserve Bank of Dallas published new findings that calculated “real wages” — the effective income of workers when adjusted for inflation.

“We find that a majority of employed workers’ real (inflation-adjusted) wages have failed to keep up with inflation in the past year,” the researchers said. “For these workers, the median decline in real wages is a little more than...

Read full story

New York Post (News)

AllSides Media Bias Rating: Lean Right
AllSides Media Bias Rating: Lean Right
110092/85803
See full bias rating for New York Post (News)
Learn about media bias
https://nypost.com/2022/10/06/americans-saw-most-severe-pay-cut-in-25-years-under-biden/

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right