President Joe Biden trumpeted a claim last Sunday that American workers’ real wages are higher than before the pandemic, but the bold assertion has been quickly debunked by Twitter’s Community Notes and the GOP.
“The tweet’s claim about real wages contains a factual error,” Community Notes replied. “On 3/15/20 when US COVID lockdowns began real wages adjusted for inflation (AFI) were $11.15. As of 7/16/23 real wages AFI remain lower than before the pandemic.”
Ur fact checked pic.twitter.com/H2lRF8pjAk
— this woman hunts (@Mrshntress) July 17, 2023
The GOP then added, “Since Biden took office, real wages are down 3%.”
Since Biden took office, real wages are down 3%.
— GOP (@GOP) July 16, 2023
According to YCharts, at the end of April 2020, before the COVID impact had started to take full effect, real wages rose to their highest level in four years: $11.72. By the end of June 2020, they fell to $11.41 and stayed at around that level until after Biden was inaugurated.
Then came a steady decline. By May 31, 2022, real wages had dropped to $11.01, and by the end of the next month they were plummeting to $10.92.
On the flipside, in the 31 months starting in February 2021, just after Biden took office, the inflation rate averaged 6.22%. In the 31 months starting in February 2017, just after President Trump took office, the inflation rate was 2.17%.
In last February’s State of the Union Address, President Biden touted creating “12.7 million new jobs, more jobs created in two years than any president has ever created in four years.”
But that ignores the 22 million positions lost within the two months of March and April 2020 due to the pandemic.
Moreover, federal spending has increased by 40% compared to before the COVID crisis. The projected 2024 budget that Biden put forward would add the same amount to the national debt as former President Trump and former President Bush combined.
As Americans contemplate the Biden administration’s economic endeavors, the president’s claim of increasing real wages has been shown to be untenable. Though Biden has strived to portray his work as beneficial for citizens’ financial stability, the facts speak for themselves.