For those celebrating the strong employment report Friday, here's a reality check: Average hourly earnings (year-over-year) went up 5.2%. That's a nominal figure. Adjusted for 8.3% inflation, real wages actually went down 3.1%. You won't hear that from the White House. pic.twitter.com/gYR2M9OlQj
— Jim Rickards (@JamesGRickards) June 4, 2022