Blue-collar salaries increasing at the quickest pace in over half a century, according to Trump administration claims
Title: That Blue-Collar Boom is Blooming, according to Treasury Official
Knee-deep in the Trump administration, economic advisor Joe Lavorgna spills the beans on pro-growth policies under the current POTUS, Donald Trump, during a chat on Kudlow.
The Trump gig is up — and they ain't talking about scandals here. Instead, the administration is shouting their victories in the realm of blue-collar workers, claiming gains just a few months into President Donald Trump's reboot.
Administration bigwigs believe that blue-collar wages (non-supervisory, production workers) have jumped by 1.7% annually in the past five months, marking a new high for this time span since 1968. Talk about a payday! This surge even beats the rise witnessed at the start of Trump's first term as Prez.
INFLATION WOES? NOT BESSENT'S CUP OF TEA
Treasury Secretary Scott Bessent, flaunting his swagger before a House Financial Services Committee, said he ain't losing sleep over inflation from tariffs. Weird, huh?
They also pointed out that the year-to-date rise is double the old record set during Nixon's era.
As for the cause behind this wage hike? Nothing but good ol' falling inflation! It's increased take-home pay for the hardworking folks and improved their livin' standards too.
THE GOP'S BIG, BEAUTIFUL TAX CUT
You heard it right, boys and girls. The Republican tax cut package (the "One Big, Beautiful Bill") is on its way too, promising to squash inflation and expedite wage gains, much like what happened during Trump's first reign.
Lavorgna, a close aide to the Treasury Secretary, chatted about this on Kudlow on Tuesday, hinting that wages are soaring faster than prices these days. "Why is this happening now?" he asked, and you can guess he's got an answer!
"Larry, we saw a historic boom in blue-collar wages when I worked for a certain powerful individual who chaired the National Economic Council. Guess who that was, and we're building upon that now, thanks to the president’s policies and the One Big, Beautiful Bill. And when that's passed, it'll strengthen the supply-side growth initiatives the president's advocated and the Treasury secretary is workin' on. The blue-collar boom will broaden and grow even bigger," he added.
When pressed about economic growth, with the Atlanta GDP eyeing a possible GDP growth rate of 3.5% in the second quarter, Lavorgna reminded us, "What really struck me was the import price data, which shows not a shred of tariff pass-through at all. In fact, when you look at the Chinese, Canadian, and Mexican import price changes since the President imposed those tariffs, you see prices actually droppin'!"
So, sit tight and enjoy the ride, folks. The Federal Reserve, Treasury, and others are makin' sure economic growth is solid and blue-collar workers keep hittin' it big!
- Despite concerns about inflation from tariffs, Treasury Secretary Scott Bessent remains unfazed, indicating that the rise in inflation is not a significant issue.
- The Republican tax cut package, known as the "One Big, Beautiful Bill," aims to curb inflation and accelerate wage gains, mimicking the effects observed during Trump's initial term.
- The surge in blue-collar wages, according to economic advisor Joe Lavorgna, is a direct consequence of President Donald Trump's pro-growth policies and the Republican tax cut, with the potential for this trend to expand further once the tax bill is passed.
