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The Bureau of Economic Analysis released annual revisions to its personal-income report on Tuesday, and the data should encourage everyone: Americans’ wages have been increasing at a healthy rate since President Donald Trump took office.
The Wall Street Journal reports, “The revisions show that employee compensation rose 4.5% in 2017 and 5% in 2018 — some $4.4 billion and $87.1 billion more than previously reported.
In 2019 compensation increased $378 billion or 3.4% in the first six months alone. Wages and salaries were revised upward to 5.3% from 3.6% in May year over year. And in June wages and salaries grew at an annual rate of 5.5%, which is a rocking 4.1% after adjusting for inflation.
Counter to the Leftmedia’s erroneous narrative that credits Barack Obama and not Trump for America’s current economic growth, the Journal notes, “Employee compensation has increased by $150 billion more in the first six months of 2019 than all of 2016.
Compensation increased 42% more during the first two years of the Trump Presidency than in 2015 and 2016. This refutes the claim by liberals that the economy has merely continued on the same trajectory since 2017 as it was before.”
Despite all the negative press Trump receives his policies are proving effective in putting/leaving more money in the pockets of hard-working Americans, giving them more freedom to spend and invest as they see fit. It’s capitalism, not socialism, that is lifting everyone’s boats.
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