Real Average Hourly Wages Continue to Decline As Inflation Destroys Economy and Now Hours Worked Is Contracting…

by Sundance at The Conservative Treehouse

The Bureau of Labor and Statistics (BLS) released the September wage report [DATA HERE] delivering worse economic news for workers.

Real wages are dropping at a historic rate as inflation continues to rise and as a result wages buy less.

[BLS] “Real average hourly earnings decreased 3.0 percent, seasonally adjusted, from September 2021 to September 2022. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 3.8-percent decrease in real average weekly earnings over this period.” (link)

REAL WAGE CHART:

As the Biden economic/energy policy and Federal Reserve monetary policy merge together, the economy shrinks.  As the economy shrinks, fewer goods and services are purchased.  As less consumer goods are purchased, employment hours drop.  As employment hours drop, wages decline.

Declining wages combined with increased inflation forms the perfect storm against middle-class and working-class families.  This dynamic means lowered income and higher prices for essential goods and services like food, fuel, energy and housing.  It’s not difficult to see why this is happening.

The declining wage rates…