Real wages have fallen for several months, but these Fox hosts claim wages are rising

The inflation surge from Trump’s war with Iran has wiped out a year of wage gains

Written by Zachary Pleat

Published

Thanks to reignited inflation from President Donald Trump’s war with Iran, real wages have plummeted since March, largely erasing wage gains from most of the second Trump administration.

Yet several Fox News and Fox Business hosts in recent weeks have insisted wages are increasing.

The Bureau of Labor Statistics’ June Real Earnings News Release showed real average hourly earnings, which take inflation into account, beginning to plummet in March 2026 for private employees, declining by 0.6% that month, followed by declines of 0.5% in April and 0.1% in May. Real wages got a boost in June due to a decline in energy prices, when Trump’s war on Iran had effectively paused and the Strait of Hormuz temporarily reopened. But the recent August release shows the weakness in real wages continuing, with a monthly decline of 0.1% from June to July. 

Another BLS publication, dated August 18, included a chart showing 12-month percent changes in real average earnings for private employees that further demonstrated that hourly wage gains dating back to March 2025 have been almost entirely wiped out by increased inflation.

a BLS chart showing real wage growth

Yet multiple hosts of Fox News and Fox Business programs have recently claimed that Americans’ wages are going up.

On August 4, Fox Business host Larry Kudlow said, “The fact is, the economy is booming, and people are spending, and their real wages are rising.” He also said on August 12, “There’s a lot of good things going on in this economy right now. … Wages are going up,” and argued that Republicans have “got to message that.”

Fox Business’ David Asman echoed this claim on August 14, saying, “There is a message to be made” by Republicans “about how real wages are increasing.”

Fox anchor Sandra Smith joined in on this false narrative on August 6, saying, “Wages are going up. They look good.” Kudlow agreed, incorrectly saying, “In the last few months, you are correct, you’re seeing a turnaround. Wages are starting to beat prices.” The next day, Smith said wage growth was a topic she’s been “watching very closely” and again claimed “wages are going up.”

This follows many Fox personalities arguing that the economy under Trump is “booming” and “going gangbusters,” even though many months of the Trump administration have included job losses, inflation remains elevated, and economic growth remains below the second half of the Biden administration.