Wage Growth Slows & Middle Class Falls Further Behind Under Trump
March 9, 2020
Last week’s jobs report showed that wage growth continues to slow under Trump. At the same time, we learned that CEO pay for the top pharmaceutical companies topped $300 million last year.
Wage growth continues to slow and working Americans have fallen further behind under Trump.
New York Times: “Wage growth, which was already slowing from last year’s peak, was less impressive. Average hourly wages were up 0.2 percent, bringing down the year-over-year gains to 3 percent.”
The Daily Beast: “Trump’s ‘Spectacular Economy’ Was Far Better for the Middle Class Under Obama”
Washington Post: “There were a record 53 million low-wage workers last year, or about 44 percent of all active workers in the United States. More than half were women. Two-thirds were in their prime earning years. Forty percent were supporting children at home. They earned a median annual salary of $17,950.”
At the same time, the CEOs of 10 large pharmaceutical companies collectively made more than $300 million last year.
Axios: “10 major health care companies have filed preliminary or final disclosures outlining executive pay in 2019. The CEOs at those firms made more than $300 million collectively, according to our updated tracker of health care executive compensation.”