Focus on Wages, Not Job and GDP Figures, to Determine True Health of Economy
Though the past few months have spawned some excitement surrounding the positive job and GDP growth numbers, alone, these measures do little to indicate the true health of the economy for most American people. Wages have been and continue to be flat, particularly since President Donald Trump took office — this, despite soaring credit card, mortgage and higher education debts, rising costs of child care and crumbling infrastructure, among other rising costs of living. Indicators like this put into focus the need for a comprehensive assessment of the actual success of the nation’s economic priorities.
Rather than obsessing over capricious numbers absent any real context, a more accurate assessment of the health of the economy must look more closely at earnings – an indicator that shows the true progress (or lack thereof) facing many workers.
The above excerpt was originally published in Morning Consult. Click here to view the full article.
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