From 2017 through 2022, wages at the bottom of the labor market have been rising faster than at the top. The trend was especially pronounced from 2020 through 2022, when wages for high earners dropped. So concludes an analysis by Victoria Guida for Politico.

The fact that Biden’s job-approval rating, and his rating on the economy in particular, is so low suggests that voters care a lot less about income inequality per se than they do about broad-based wage growth. Politico’s analysis shows that middle-income workers have been losing ground as inflation erodes their paychecks.