The numbers: Workers are reaping the benefits of the lowest unemployment rate since the late 1960s: Wages, salaries and benefits are rising at the fastest rate in a decade.
The employment cost index rose 0.8% in the third quarter running from the beginning of July to the end of September, the government said. Economists polled by MarketWatch had forecast a 0.7% increase.
The 12-month increase in the ECI was unchanged at 2.8%, but it’s still at a 10-year high." Marketwatch
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Trump insists that his economic policies including the Tax Law and Deregulation have benefited all. This statistical report tends to support that. Democrats will, of course, dispute that, claiming that Obama's herculean efforts to revive the economy are merely bearing fruit.
Will this set of statistics benefit the Republicans? I doubt that it will. Working people tend to distrust government statistics and also tend to accept added pay as their due and not something for which the government should be thanked. Additionally, a benefit enjoyed tends to be a benefit taken for granted. pl
