And most, if not all, of that growth is due to inflation.
Uh, folks, wage growth - as in actual tracked wages not that BLS garbage - is in freefall: "growth in after-tax wages and salaries, based on BofA deposit data, slowed to just 2% YoY on a 3MMA basis, down from the peak of 8% in April 2022, the lowest since June 2020." https://twitter.com/zerohedge/status/1646127667169591297/photo/1
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