Donald Trump left office in January and strongly hinted that a comeback is in the offing.
Many doubted him.
But Donald Trump heard the news that may allow him to come back as president.
Inflation continues to concern millions of Americans.
In April, the core price index rose 3.1 percent compared to one year ago.
That was the biggest jump since 1992.
A Bureau of Labor Statistics report provided a second gut shot on inflation showing hourly wages jumped nearly three times what they were expected.
Hourly compensation soared much more than expected in the first three months of the year, even as millions of Americans remained on unemployment roles or out of the workforce, data from the Bureau of Labor Statistics showed Thursday.
Hourly compensation jumped 7.2 percent in the first quarter, according to the BLS’s revised estimate of labor costs and productivity. This had been reported as rising 5.1 percent in the first estimate.
Adjusted for inflation, hourly compensation rose 3.3 percent, more than twice the 1.3 percent originally reported.
There is not a tight labor market.
There are still millions of Americans out of work and millions of job openings.
Inflationary pressures are driving wages higher.
Joe Biden and the Democrats hoped “shots in the arm and money in the bank” would be a message the party could trumpet to Americans.
But this Bureau of Labor and Statistics report combined with a new report from the Federal Reserve that suggested there could be supply chain shortages this year cast doubt on the strength of the Democrats’ economic message.
“Manufacturers reported to officials at regional Fed banks that widespread shortages of materials and labor along with delivery delays made it difficult to get products to customer. Construction industry executives said they struggled to keep up with very high housing demand due to a lack of workers, in some places reducing sales,” Breitbart reported.
Donald Trump continually hints in interviews—the latest example being in an appearance on Dan Bongino’s radio show—that he will run for president again in 2024.
When Donald Trump was planning his 2020 re-election campaign the economy was supposed to be the centerpiece of the campaign.
Unemployment rates for black and Hispanic Americans reached record lows and wages for low-income workers rose.
If Donald Trump runs for president again in 2024 the economy will likely be the main issue.
Trump would like to campaign on his record and compare it to the state of the economy after four years of Democrat-run Washington.
Should inflation continue to plague the economy it could hand Donald Trump a talking point.
But if the economy turns around and inflation subsides, Democrats will breathe a sigh of relief.
If you want Black Eye Politics to keep you up to date on any new developments in this ongoing story and the rest of the breaking news in politics, please bookmark our site, consider making us your homepage and forward our content with your friends on social media and email.