The U.S. jobs report for the month of May was released on Friday — and the results were promising. More new jobs were added to the U.S. economy than expected, the unemployment rate dipped down to a measly 3.8 percent, and average hourly wages rose about 2.7 percent.
But despite the stellar report, critics of President Donald Trump still had something to complain about. House Minority Leader Nancy Pelosi found just one key economic metric that lagged behind the others — and she didn’t hesitate to blame Trump and Republicans for it.
Pelosi released a statement on Friday which dismissed all of the great economic news in the report to focus on the fact that wages weren’t rising quite as fast as some of the report’s other key metrics.
“May’s jobs report shows that strong employment numbers mean little to the families hit with soaring new costs under the Republicans’ watch,” Pelosi said.
She went on to blame rising health care costs on Republican “sabotage,” and even claimed that big corporations were hoarding their profits from what she repeatedly called the “GOP tax scam.”
“At the same time, the president’s reckless policies are exploding gas prices, wiping out the few meager gains that some families should have received from the GOP tax scam, as wages remain stagnant,” Pelosi said.
She added: “Thanks to the massive windfall of the GOP tax scam, Wall Street and wealthy corporations are on track to spend $1 trillion on dividends and stock buybacks while simultaneously announcing tens of thousands of layoffs and shipping jobs overseas and refusing to raise workers’ wages.”
It is true that wages haven’t been rising at a rapid clip similar to other economic metrics — but they aren’t exactly “stagnant” either, at least not as stagnant as wage growth was during the tenure of former President Barack Obama, according to information compiled by the Economic Policy Institute‘s Nominal Wage Tracker.
While the Institute suggested healthy wage growth should be in the 3.5 to 4 percent range, it hasn’t been there since the economic crash and recession of 2008.
Following a low point in 2012-13, when wage growth was barely higher than 1 percent, the rate steadily climbed over the course of 2015 through 2017, and it appears poised to track much higher than 2.7 percent as 2018 progresses.
[show_poll poll_id=333]
The truth is, the U.S. economy is booming right now in large part because of President Trump’s tax-trade and deregulatory policies, even if wage growth is still lagging behind everything else.
That good news doesn’t help Democrats like Pelosi ahead of this year’s midterms, though, so she and her colleagues will continue reaching for anything they can use to bash Trump, as embarrassingly hypocritical as that may be.
1,143 Responses
May I simply say what a relief to discover a person that truly understands what they are discussing on the net. You definitely know how to bring an issue to light and make it important. More and more people should check this out and understand this side of your story. I was surprised you aren’t more popular given that you definitely possess the gift.
Having read this I thought it was extremely informative. I appreciate you finding the time and energy to put this short article together. I once again find myself spending a significant amount of time both reading and posting comments. But so what, it was still worth it.
Thank you for the auspicious writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! By the way, how can we communicate?
I enjoy reading a post that will make people think. Also, thank you for allowing me to comment.
A lot of bloggers nowadays however very few have posts worth spending time on browsing.
Hi there to all, since I am genuinely keen of reading this web site’s post to be updated regularly. It carries fastidious data.|
Helpful info. Lucky me I discovered your site by chance, and I’m surprised why this accident didn’t took place in advance! I bookmarked it.|
I could not refrain from commenting. Very well written.
Having read this I believed it was extremely enlightening. I appreciate you spending some time and energy to put this informative article together. I once again find myself spending way too much time both reading and posting comments. But so what, it was still worthwhile.
Incredible points. Sound arguments. Keep up the amazing work.|
An intriguing discussion is definitely worth comment. I do think that you should publish more on this subject, it might not be a taboo subject but usually people do not speak about these issues. To the next! All the best.
Very good article. I’m experiencing a few of these issues as well..
I couldn’t refrain from commenting. Very well written!
Thanks for one’s marvelous posting! I quite enjoyed reading it, you will be a great author.I will make certain to bookmark your blog and will come back from now on. I want to encourage you continue your great posts, have a nice weekend!
Undeniably imagine that which you stated. Your favorite justification seemed to be on the web the simplest thing to keep in mind of. I say to you, I definitely get annoyed while other folks consider issues that they just don’t recognize about. You controlled to hit the nail upon the highest as well as outlined out the entire thing with no need side-effects , other people can take a signal. Will probably be back to get more. Thank you
Hello! This is kind of off topic but I need some help from an established blog. Is it very hard to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about creating my own but I’m not sure where to begin. Do you have any ideas or suggestions? With thanks
After exploring a few of the articles on your site, I seriously appreciate your technique of blogging. I bookmarked it to my bookmark website list and will be checking back in the near future. Please visit my website too and tell me what you think.
This site was… how do I say it? Relevant!! Finally I have found something that helped me. Thank you!
I was able to find good advice from your blog articles.
I blog often and I really appreciate your information. This great article has truly peaked my interest. I will take a note of your blog and keep checking for new details about once a week. I subscribed to your Feed too.
An impressive share! I’ve just forwarded this onto a colleague who has been conducting a little research on this. And he actually ordered me breakfast due to the fact that I found it for him… lol. So let me reword this…. Thanks for the meal!! But yeah, thanks for spending the time to discuss this topic here on your site.
This is a topic that is close to my heart… Cheers! Exactly where are your contact details though?
I’m amazed, I must say. Rarely do I come across a blog that’s both educative and amusing, and without a doubt, you’ve hit the nail on the head. The problem is something not enough folks are speaking intelligently about. Now i’m very happy I came across this in my hunt for something regarding this.
Hi there! I could have sworn I’ve visited this site before but after going through some of the articles I realized it’s new to me. Anyways, I’m definitely delighted I found it and I’ll be book-marking it and checking back often.
Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research on this. We got a grab a book from our local library but I think I learned more clear from this post. I am very glad to see such wonderful info being shared freely out there.
Nice post. I learn something totally new and challenging on sites I stumbleupon every day. It’s always helpful to read articles from other authors and use a little something from their websites.
Saved as a favorite, I love your blog!
Way cool! Some very valid points! I appreciate you writing this write-up and the rest of the website is very good.
The only thing I lament is not having found your blog site earlier.
I like the manner you have ended this post …
I like it when people come together and share views. Great blog, continue the good work.