Bessent’s Wage Claims vs Reality | Durham News

Treasury Secretary Scott Bessent claims the economy is finally working for everyone, pointing to faster wage growth for low earners over the top 25% — but the data doesn’t fully support his narrative. While some sectors like hospitality and construction show gains, official reports reveal wage growth for the bottom quartile is nearly on par with the top, and inflation-adjusted earnings actually dipped slightly last year. The so-called “K-shaped” economy persists, with asset owners thriving while wage earners struggle — a divide that frustrates many families. Though median household income hit a record high, the boost mostly benefited the wealthy. With the Fed raising rates to fight inflation — which also hikes costs for credit card holders — it’s crucial to track your own pay against actual inflation, not just broad economic headlines.

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