Wage growth just hit its weakest pace in about five years, up only 3% year over year, while CPI is running at 3.4%. @hamrickisms of The Hamrick Brief tells @RemyBlaireNews this jobs report was "steady but unspectacular," with downward revisions making for a reduction of 60,000 jobs over the prior two months, and July now showing a contraction.

Wages go up 3% a year. Assets go up 10%. That 7% gap compounds, which means the distance between people who own things and people who don't grows faster every single year. Nobody has to do anything for that to happen. It just does. 10 years from now that gap will be roughly DOUBLE what it is today, and the people on the wrong side of it will still be arguing about whose fault it is. That’s what The Assembly is for. Getting people onto the side that compounds. Members are making tens of thousands on a $199 membership. Some have taken their families on vacation with the profits. 4 months ago they were reading a post exactly like this one. They did something about it, that’s the difference, and that’s why they’re winning today. Access here:

Wages grew in step with the stock market for the first decades of the postwar boom. Since Reagan, stocks have skyrocketed while wages stayed on the same trajectory: +9,686% vs. +1,196%. That gap is a big driver of inequality — and a case for taxing capital more like work.

Wage quartile dispersion continues to narrow, with the top and bottom income quartiles now separated by just 10 basis points (+3.8% vs. +3.7%), according to latest @AtlantaFed Wage Growth Tracker

Wage growth ticked below inflation again last month. That means Americans' average wages shrunk in real terms over the past year. Real wages were growing when Biden left office, but the trend flipped negative after Trump launched the Iran War.