Despite all the excitement and media hype that wage growth is finally upon us and the green shoots of escape velocity recovery are here, thanks to Obama and Yellen, the facts are different. Real average weekly earnings rose just 0.2% year-over-year in December – the weakest growth since June 2014 (and November’s gains were revised lower).
When Obama took office, real average weekly earnings was growing at around 2.5% YoY. As he leaves office it is growing at just 0.2% YoY.
Does that look like a healthy economic trajectory to hand over to President Trump?
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