Wages have stayed virtually frozen since President Obama took office, a fact that Politico notes is starting to get some traction on the campaign trail. When adjusted for inflation, the average hourly wage has crept up a meager 42 cents to $23.41 since 2008. High unemployment is a factor, and wages may not increase much until the rate comes down 2 or 3 points from its current 8.2%.
The Romney campaign has already pounced on the stagnant salaries. Referencing Obama's assertion last week that the "private sector is doing fine," the Romney camp sent out an email saying, “Maybe he can ask families whose household income dropped $4,300 if they’re ‘doing fine.'" Obama, who later walked back the 'doing fine' comment, is expected to address the issue during an economic speech in Ohio tomorrow. Romney hit him in advance today, notes AP: "You're going to see him change course when he speaks tomorrow, where he will acknowledge that it isn't going so well," he said. "My own view is that he will speak eloquently, but that words are cheap."