Trump's War Has Already Reversed Americans' Recent Wage Gains

The real wages of American workers, one of the few remaining positive economic signs the administration could point to without lying, have been sent abruptly into reverse by the war on Iran. In March the average worker’s real weekly wages fell by a large −0.9%, wiping out almost all of the gains of the year since last March. Not only did inflation log 0.9%, against just 0.2% gain in hourly wages, but the average of hours worked per week fell by −0.3%. The same was true for production workers and non-supervisory workers, as for all workers.