Trump now owns the top four quarterly drops in real earnings in history as inflation continues to outpace wages and Americans pay more for less
New economic data released today revealed that inflation-adjusted weekly wages in the third quarter of this year dropped more than 2% from last quarter to the lowest point in more than two years. Today’s data marks the second largest drop on record dating back nearly 50 years, and the largest drop outside of the COVID-19 pandemic. Trump has now presided over the top four quarterly wage drops in history.
Wholesale inflation in September sharply exceeded expectations — rising 6.3% over the last year — the largest month-over-month increase in more than four years. The increase was the second-largest increase since at least 2010. Consumer inflation also reached 3.7% in September — the highest rate since May.
In response, DNC Deputy Communications Director Kendall Witmer released the following statement:
“Donald Trump and JD Vance continue to make life unaffordable for working families as wages fall behind and paychecks fail to keep up with sky-high prices. Trump and Vance chose to launch reckless tariffs and start a deadly and costly war with Iran, and now everyday Americans are being forced to shell out hundreds of dollars more at the pump and the grocery store. Americans are tired of being stretched thin to make ends meet — and in less than two weeks, voters will send a message to Trump and Republicans.”
Under Donald Trump and JD Vance, Americans have paid an additional $4,700 on everyday essentials, including an additional $310 for groceries and $915 for housing. Meanwhile, as Trump’s war with Iran rages on, Americans have been forced to spend an additional $140 billion on gas and diesel alone, and the average price of gas has been above $4 per gallon for 165 days this year — more than any year on record.
It’s no wonder Trump’s approval has fallen to record lows, even among his strongest supporters. A new poll today found that nearly 70% disapprove of Trump’s handling of the cost of living, and nearly 75% disapprove of his handling of high gas prices.
