The Patriot Post® · Laborers Can't Afford a Labor Day

By the Republican National Committee

BIDEN HAS BETRAYED AMERCAN WORKERS

• Labor Day is a time to recognize the American worker, but under Joe Biden, workers don’t have much to celebrate.
• With persistent inflation having eaten away at wage gains, more and more Americans are struggling financially.
  • Inflation-adjusted average hourly wages, the Bureau of Labor Statistics adjusts to 1982-1984 dollars, were $11.39 when Biden took office and are now $11.09, meaning Americans have seen a 2.6 percent pay cut under Biden.
• Strapped for cash, Americans are increasingly withdrawing from their retirement savings to make ends meet.
• Consumer confidence recently saw its biggest drop in two years due to “souring views on the labor market, higher borrowing costs, and lingering inflation.”
• As Biden’s economy flounders, U.S. companies including Farmers Insurance, T-Mobile, and CVS have all announced layoffs in the past month.
  • The number of long-term unemployed Americans increased last month by 59,000.
  • Additionally, there are 4 million Americans currently working part-time for economic reasons.
• Meanwhile, Biden is expected to continue his record pacing rate of vacations, caring more about his vacation time than the American people.
  • Since taking office, Biden has spent 380 days – 39.9 percent of his presidency – on vacation.
  • This past month alone, Biden spent 19 days on vacation.

LABOR UNIONS ARE TURNING AGAINST BIDEN

• Biden promised to be the “most pro-union president” in history, but cancelled the Keystone XL pipeline on day one, killing 8,000 union jobs in the process.
• One of the largest labor unions in New Hampshire is refusing to endorse Biden’s re-election bid, saying his “record and actions” do “not merit an automatic re-endorsement.”
  • The United Auto workers is also holding off on endorsing Biden, citing concerns over his electric vehicle policies.
• The Border Patrol union is deeply unhappy with Biden’s leadership, calling the administration “corrupt to its core.”
• Starbucks employee Alyssa Coakley on Biden’s failure to deliver on campaign promises: “When it comes to labor, it’s been a little bit performative. Like, what more are you doing for us?”

BIDENOMICS IS RUINING LABOR DAY PLANS

• 61 percent of Americans are less likely to travel this Labor Day weekend due to inflation.
• 42 percent of Americans expect rising prices to impact their Labor Day plans, and more than 85 percent plan on implementing money-saving measures for the holiday. 
• As Americans travel to see friends and loved ones this holiday weekend, they will face high prices at the gas pump.
  • U.S. average gas prices currently sit at $3.83 per gallon, which is more than $1.40 per gallon higher than when Biden became president.
  • U.S. average gas prices have been above $3 per gallon for more than 840 days straight.
  • Two states have seen the return of $5 per gallon gas.
• Labor Day cookouts will cost more under Biden, with hot dogs up 3.3 percent, burgers up 3.1 percent, rolls up 5.8 percent, cookies up 6.9 percent, pie up 8 percent, and beer up 4.3 percent compared to last year.
  • Those who choose to celebrate by eating out will pay on average 7.1 percent more than last year.

BIDENOMICS IS CRUSHING AMERICANS

• It’s not just Labor Day that is costing Americans more – day to day life continues to get more expensive under Biden.
• Inflation has risen by 16.9 percent since Biden took office.
• Americans are suffering from the lasting effects of Biden’s record-breaking inflation, with many unable to pay bills, save money, or afford rent.​
  • 61 percent of Americans report living paycheck-to-paycheck.
• Bidenomics has cost the middle class $2.4 trillion since March 2022.
  • The average middle-class household has lost over $33,000 in real wealth in just the past year.
• Low-income Americans are being hit the hardest by inflation according to studies by the New York Fed, Dallas Fed, and the Urban Institute.
• Americans are increasingly borrowing to cover daily expenses, finding their regular income is no longer enough to make ends meet.
  • Credit card balances are above $1 trillion for the first time and household debt is now at an all-time high. 
• The Fed has hiked interest rates 11 times since March 2022 – now at their highest level in 22 years – making it harder for families to buy a home, finance a car, pay off debt, and perform various other financial transactions.
  • Starter home price increases are now outpacing wage gains and home prices just hit record highs in nearly two-thirds of major markets, making the dream of owning a home increasingly out of reach.
  • With new vehicle prices near an all-time high and interest rates jumping dramatically, this is now the “least affordable car market in modern history.”
  • There will likely be “additional increases” according to a top Fed official.

  Originally posted here.