America's Real Wages Rise Under Biden-Harris: A Clearer Economic Picture

Tuesday, 17 September 2024, 15:30

America's real wages are now rising, indicating that the average working-class American is better off under Biden-Harris than under Trump. With inflation easing, average hourly wages for production and nonsupervisory workers reached $30.27 in August. This trend is significant as inflation-adjusted earnings reveal broader economic health and improvements amid previous inflationary pressures.
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America's Real Wages Rise Under Biden-Harris: A Clearer Economic Picture

America's Economic Revival: Understanding Real Wages

America's real wages are experiencing a notable increase, signaling encouraging developments for the average working-class individual. In August, average hourly pay for production and nonsupervisory workers hit $30.27, reflecting a tangible economic shift.

Inflation Matters: The Importance of Real Wages

Real wages, which are crucial for assessing economic well-being, reveal that after inflation adjustments, wages have edged above their 2020 levels. This change underscores public sentiment regarding inflation's pressures and its implications for economic policy. Over the last year, swing states such as Georgia, Michigan, and North Carolina reported average weekly wage growth surpassing 3.5%—outpacing inflation.

The Driving Forces Behind Wage Growth

This positive trend in real wages is significantly driven by increased U.S. productivity and an aggressive pro-investment policy agenda from the Biden-Harris administration. Enhanced domestic investments are fostered through pivotal legislation like the Infrastructure Investment and Jobs Act and the CHIPS and Science Act, contributing to a growing economy.

Corporate Investments Fueling Growth

Large U.S. corporations have notably ramped up domestic capital spending, exceeding $900 billion from 2021 to 2023 alone—far surpassing previous administration efforts. This inclination towards investment inevitably leads to higher job creation and productivity, resulting in sustained real wage growth.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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