The Breitbart News reported Saturday that the left-leaning Economic Policy Institute (EPI) reported data showing that the average American wage rose sharply under Trump in 2019, and that the average American wage is also on the rise in 2020 amid an Epidemic lockdown and massive unemployment among low-income earners.
The Economic Policy Institute on Feb. 24 released the organization’s annual “State of Working America 2020 Wage Report,” and the peak shown in the chart below reveals how Americans’ incomes will increase at the end of 2019 under President Trump.
“Men in the middle and bottom of the wage distribution saw their wages increase in 2019: Half of Americans saw their wages increase by 2.6 percent, with the lowest 10 percent of Americans earning the largest wage increase, a staggering 5.7 percent, and the lowest 20 percent of Americans earning 4.2 percent, according to the organization’s 2019 “State of Working America 2019″ report.”
The Economic Policy Institute’s data echoes that of the Federal Reserve.
“Households at the bottom of the income and wealth distribution generally, continued to see substantial gains in median and average net worth between 2016 and 2019,” according to a September 2020 report from the Federal Reserve Banking System. The report is called “Changes in U.S. Household Finances from 2016 to 2019: Evidence from the Survey of Consumer Finances.
The report shows that over the three years of the survey, 2016 to 2019, the U.S. gross domestic product grew at an annual rate of 2.5 percent and the civilian unemployment rate fell from 5.0 percent to 3.8 percent.
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