In order to justify the US “recovery”, one of the recurring themes has been that wages of US workers are going up…. any minute now.
And since any minute now has been the common refrain for about five years now, some are getting skeptical. Not us: we have known since 2009 that the Fed’s “plan” of making billionaires trillionaires fixing the economy won’t work from the start, but we are always willing to be convinced otherwise.
So for all those who keep warning that wage inflation is just around the corner (you know who you are), please point out on the chart below – which shows that real hourly wages just had their first annual decline since October 2012 – where this wage inflation is so stubbornly hiding?