Report suggests that real wages have fallen as inflation rose over past four years

The Washington Times cited CEI’s experts on real wages & rising inflation

Sean Higgins, an analyst at the libertarian Competitive Enterprise Institute, said the Pew Stateline findings suggest that lawmakers should “stop bumping up wages” and start cutting federal spending “to get the deficit under control.”

He attributed the growing poverty of U.S. workers to minimum wage increases, runaway pandemic spending and “an incredibly tight labor market” as more older workers retire.

“It’s a sign of a wage-price spiral when rising wages cause inflation that drives up prices and erodes the value of money, causing demands for more money,” Mr. Higgins said. “It’s just a classic example of inflation eating up wages.”

Read more at The Washington Times