FEBRUARY 29, 2020 3:00PM (UTC)
President Donald Trump claimed that his economic policies led to a “blue-collar boom” and rising wages at the State of the Union address earlier this month, yet new data shows that inflation-adjusted wage growth has fallen substantially during his first two years in office compared to the end of President Barack Obama’s presidency.
Middle-class incomes grew about 5.8% per year during Obama’s last two years in office before slowing to 2.7% from during Trump’s first two years in office, according to a new analysis by the progressive think-tank Economic Policy Institute (EPI) and investigative news outlet Capital & Main. The income data were adjusted for inflation. All but two states saw real wages fall during that time period.