Raw wages, unadjusted for inflation, have risen every quarter of Biden’s presidency,...
What happened to the Biden Boom so many economists predicted? It happened, in terms of job growth, but many Americans haven’t felt it because inflation has outpaced wages until recently.The claim:"As inflation is coming down, take-home pay for workers is going up. Workers’ wages are higher now than they were seven months ago, adjusted for inflation." — President Joe BidenWage increases have outpaced inflation over the past two quarters.
PolitiFact is a fact-checking project to help you sort out fact from fiction in politics. Truth-O-Meter ratings are determined by a panel of three editors. The burden of proof is on the speaker, and PolitiFact rates statements based on the information known at the time the statement is made.
So, for the past two quarters, wages have outpaced inflation. That’s the point the White House emphasized when we inquired for this article. But by the time of this turnaround, wages had fallen into a big hole on Biden’s watch — a hole the recent gains are only now starting to climb out of.
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