search
Close Nav

Inflation and Wages: Top Concerns for Voter

back to top
commentary

Inflation and Wages: Top Concerns for Voter

May 10, 2022

Some journalists and politicians are wondering why Americans aren't happier with the economy. But this chart says it all. It plots weekly American wages that have been adjusted for inflation. Inflation this high means most Americans get a big wage cut each week. The last time this happened was 40 years ago. Inflation also creates uncertainty, you don't know what each trip to the grocery store will cost each week. This means your income is not only smaller, what you can buy with it is less predictable. Riskier income is also a form of a wage cut. It is no wonder, despite the tight labor market, the economy is most voter's top concern. 

Source: FRED

Allison Schrager is a senior fellow at the Manhattan Institute. Follow her on Twitter here.

Interested in real economic insights? Want to stay ahead of the competition? Every Wednesday, e21 delivers a short email that includes e21 exclusive commentary and the latest market news and updates from around the Web. Sign up for the e21 Weekly eBrief.

Photo by fatido/iStock

e21 Partnership

Sign up for our MORNING E-BRIEF for top economics commentary:

By clicking subscribe, you agree to the terms of use as outlined in our Privacy Policy.

 

 

 

 

 

 

 

 

 

ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
ERROR
Main Error Mesage Here
More detailed message would go here to provide context for the user and how to proceed
Close