PolitiFact - President Joe Biden said incomes are up, but that ignores inflation

By Bill Adair • August 1, 2007

After the last of those spikes, which reflected the stimulus payments from the American Rescue Plan, disposable personal income has generally stagnated, and is down on a year-over-year basis by about 4% between July 2021 and July 2022. Dean Baker, co-founder of the Center for Economic and Policy Research, a left-of-center think tank, cautioned that economic data post-pandemic can be trickier than usual to analyze. Business closures during the pandemic resulted in disproportionate job losses for lower earners. Over time, those employees have come back into the workforce, but the shifting composition of the workforce has complicated point-to-point comparisons.

"It rose from an average of 34.4 hours in 2019 to a peak of 35 hours in January and is now back down to 34.5 hours," Baker said."My story on this is that when employers couldn't find workers, they had their existing workforce put in more hours. Now that labor is less scarce, they have moved hours back down to more normal levels. But fewer hours means less weekly pay."Biden said,"Incomes are up.

The president seems to have said wages are up, not “purchasing power.” You’re using inflation-adjusted wages here, in other words, but do you report wage-adjusted inflation numbers?

POTUS Wages aren't keeping up with inflation. FactCheck

Hey, disingenuous pretend fact-checkers, do wages under Trump!! You *always* manage to do 'true, but...' for everything by democrats.

Yep, agree. I’m curious, have you also done inflation adjusted gas prices?

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PolitiFact - President Joe Biden said incomes are up, but that ignores inflationIn a recent speech in Detroit, President Joe Biden said incomes are up. Once inflation is factored in, wages are down 4% compared with a year ago. Why is only it mostly false? Lol You’re so bad at this. =
Source: PolitiFact - 🏆 17. / 71 Read more »

PolitiFact - President Joe Biden said incomes are up, but that ignores inflationIn a recent speech in Detroit, President Joe Biden said incomes are up. Once inflation is factored in, wages are down 4% compared with a year ago. OK, but if you don’t factor in inflation, wages are up. I understand that set up against a backdrop of inflation driven by a pandemic, the net affect is down. However, wages and inflation should be viewed separately. You’re really bad at this. So incomes are up but not up because of a general rate of inflation.
Source: PolitiFact - 🏆 17. / 71 Read more »