The verdict for this episode is: for many American workers, wages are not keeping pace with the cost of living.
In this episode, I discuss a report from the Bureau of Labor Statistics that demonstrates how the real wages of many American workers were lower in 2017 than 2016. Here is a Washington Post story about the report.
I demonstrate the impact of decreasing real wages with a report from The National Low Income Housing coalition that shows there isn’t a single state where someone earning a minimum wage can afford a two-bedroom apartment. The Washington Post details the findings.