Many of our overall indicators are percolating along just fine, but the growth continues to elude many working families, especially those in the middle and low end.
Many of our overall indicators are percolating along just fine, but the growth continues to elude many working families, especially those in the middle and low end.
The economy's doing fine, except if you figure in working families. We're posting great numbers in aggregate demand, yet the lousiest on record for wage growth.
This report shows a race between factors boosting net worth such as home ownership and factors pushing the other way such as weak wage growth. Unless we start to see better income growth from jobs and wages, it is hard to see major gains in net worth for the typical family.
The problem isn't simply that families are facing higher prices, particularly at the pump. It's also that they're facing lower wages. If wages were keeping pace with inflation, the pinch wouldn't be as hard.
© 2020 Inspirational Stories
© 2020 Inspirational Stories