Trump's presidency linked to decline in American paycheck purchasing power

Donald Trump’s return to the presidency was influenced by a decline in American paychecks' purchasing power. The paycheck power index fell 4% during the Biden administration, contrasting with a 5% increase under Trump. While average weekly wages rose 17% during Biden's term, inflation surged 21%, significantly impacting purchasing power. In key swing states, the index showed notable declines, with Nevada experiencing a 5% drop and Arizona a 1% decrease. Despite some economic improvements in the third quarter of 2024, many voters remained concerned about inflation's impact on their finances. The recent increase in purchasing power was the first since early 2021, raising questions about its effect on voter sentiment.