CPI – headline vs. CPI for wage earners and clerical workers:
FIgure 1: Median weekly usual real earnings, deflated using CPI (blue), using CPI for wage earners and clerical workers (red), both in logs 2025Q1=0. Source: BLS and author’s calculations.
Huh. 0.5% increase under Trump II (little EJ calls that roaring) but only 5.0% increase under Biden (EJ says real wages fell).
http://www.fiercepharma.com/pharma/amgen-agrees-74m-settlement-resolve-investor-lawsuit-over-107b-tax-bill
Amgen agrees to $74M settlement to resolve investor lawsuit over potential $10.7B tax bill
“We agreed to settle the case because we believe it is in the best interests of Amgen and our shareholders. Continuing the litigation would have been time-consuming, costly and distracting to our mission to serve patients.”
Replace serve patients to evade taxes.
An aspect of the current Trump economy that seems to be little commented on – is the labor force participation rate. The labor force participation rate has actively declined, dropping to 61.5% during the past two years. Adults “not in the labor force” have reached a record 105.8 million. The reasons: retirements (i.e. aging baby boomers permanently retiring); immigration policies – mass deportations; worker discouragement; caregiving responsibilities and health reasons. Remember this 105.8 million is not counted in LFPR. Of the 169 million individuals counted inside the labor force – there are 162 million individuals who currently hold jobs and 7.09 million individuals who do not have a job but are actively seeking work. The 105.8 million is a historic high. Also the Trump admin is making substantial cuts to public benefits such as SNAP.
“Inflation-adjusted median earnings in Q2 were up a mere 0.5% from Q4 ’20”
Yes little E.J. (Edwin John sounds so prep school) Antoni is still starting his distortion measure of real wages before Trump II with this very misleading start date. We all know why it is dishonest and so does ERWIN. But the dishonesty never stops.