Black Worker Wages Rise The Most On Record

Who says there is no wage growth? Certainly not the Labor Department, and certainly not African American workers.
In a release on Thursday, the DOL reported that seven years after the “end” of the recession, median wages for full-time black workers jumped by 9.8% in the Q3 – the biggest quarterly jump since record began in 2000.
According to WSJ calculations, the recent wage gains means that blacks are the one racial group with the highest cumulative increase in their wages since since the recession ended in mid-2009, clocking in at 15.7%, and outpacing the gain for whites, 13.3%, Asians, 11.1% and Latinos, 15.5%.
However, in what will likely become a political talking point to be paraded over the last few weeks of the presidential campaign, the bulk of the improvement for blacks and Latinos has occurred in the past two years, ever since Obama’s push for raising minimum wages across the country, which have indeed resulted in higher median wages for many workers, however – as the infamous Stabucks example showed – at the expense of declining total works hours and/or a cut back in benefits.

This post was published at Zero Hedge on Oct 20, 2016.