CNBC published an article which appeared to celebrate one of the aspects of inflation means higher wages, which was immediately mocked on social media.
On Thursday, CNBC published an article titled “The upside to inflation: rising wages” to discuss the growing concerns regarding inflation.
“Although consumers may pay more for everyday items, it’s not all bad news as far as household income and spending goes. Companies facing a labor shortage are also paying more to get workers to walk in the door,” the article stated.
FOX NEWS POLL: 83% WORRY ABOUT INFLATION, MAJORITY SAYS BENEFITS HURTING ECONOMY
Many Twitter users were quick to point out the absurdity behind the claim. National Reviewer writer David Harsanyi tweeted out “Inflation’s silver lining: your retirement funds will be worth nothing, but you will be paid more after being forced to go back to work.”
“House fire’s silver lining: lower heating bills,” quipped conservative commentator Matt Walsh
Other Twitter users posted similar comments ridiculing the headline.
The article highlighted how wages have been increasing over the year stating “[a]s of the latest tally, average hourly earnings rose 0.3% month over month and 3.6% year over year, according to the Labor Department.” However, the author acknowledged that “incremental wage increases are unlikely to keep pace as the cost of living rises.”
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Inflation has become a growing concern for voters. In a recent June poll, respondents regarded inflation as the top economic issue with 83 percent of voters extremely concerned or very concerned about it.
However, President Joe Biden continues to advocate for continue trillion dollars of government spending and has dismissed concerns about rising prices.
“We have more than ample room to raise worker pay without raising customer prices,” Biden said.
