U.S. Wages Stagnant Under Obama

AP Photo/LM Otero
AP Photo/LM Otero

After six years of Obamanomics, Federal Reserve Chair Janet Yellen is still citing “stagnant wage growth as a sign of continued problems in the labor market,” and the immediate future isn’t looking much better.

“Average hourly earnings dipped in December, after a nice boost the month before, according to the government jobs report released Friday. Over the year, the gauge rose only 1.7% — just barely over the inflation rate,” according to a report.

As Lynn Reaser, chief economist at Point Loma Nazarene University, pointed out, the decline did not come from increased hiring in low-wage sectors.”

Employers across the board — from manufacturing to financial services — paid lower wages last month.

Also, unfortunately, economists aren’t predicting any significant wage boost soon.

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