politics
National Economic Council Director Discusses Wage Growth and Inflation Data
The director stated that real wages have risen for some workers. A host cited Bureau of Labor Statistics data showing inflation outpacing wage growth.
May 31, 11:51 AM·1m read1 source
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National Economic Council Director Kevin Hassett said real wages have increased for some American workers during a Fox News Sunday interview. Hassett stated that typical families have gained about $3,000 since President Trump took office. He added that real incomes for mining workers rose $7,000 per year.
Bream asked about Bureau of Labor Statistics data showing the Consumer Price Index rose 3.8 percent year over year. Bream noted that inflation is now outpacing wage growth. Hassett replied that the personal income report includes transfers and food stamps, which the administration has reduced. He said wage data is the best measure and shows real wage increases.
The average price of a gallon of gas reached $4.336 at the time of the interview, up more than $1.35 from February 26. Diesel fuel averaged $5.475 per gallon, up from $3.66 on February 15. A poll released May 17 found that more than three out of four respondents felt concerned about the economy. Two in three said they felt stressed, and 29 percent described the economy as good.
