harris making administration case on wednesday. there s no question we still have work to do but it s important to note these numbers do not fully reflect the recent drop in gas prices. average national gas price have fallen everyday nearly 30 days. since mid-june, prices are down 40 cents a gallon. paul: republican constant kevin brady of texas, top republican on the house ways and means committee. welcome mr. chairman. you heard the vice president say this is out of date, the numbers are out of date, what do you think that? they have no good news to talk about, maybe that s their effort but the fact is, most americans are learning joe biden s economy is a cool economy and we got to double down and inflation is raising both for families and mainstream businesses. it s getting worse, accelerating. you are seeing significant pay cuts for families, mainstream businesses already struggling with shortage and high prices. this tells inflation staying high for an extended perio
temperatures 14 20 , it will feel much fresher. have a good weekend. not disappointed with that! thank you. and that s bbc news at ten on friday the 17th ofjuly. there s more analysis of the day s main stories on newsnight with mark urban which is just getting underway on bbc two. the news continues here on bbc one, as now it s time to join our colleagues across the nations and regions for the news where you are. but from the ten team, it s goodnight. hello, and welcome to our look ahead to what the papers will be bringing us tomorrow. with me are rosamund urwin, who s the media editor at the sunday times, and the writer and broadcaster mihir bose. he was for a long time to be bc s sports editor. i hope you are nice and cool and refreshed or you are after the sweltering temperatures in the south of england over the last few hours. the times says the treasury has warned employers must be careful about giving big pay rises this year as it could help fuel increases in inflation.
says it s down the middle of the fairway, couldn t have been much better. there s one catch here, there always is. wages. wages remain a bit high. of course, that s great news for workers and more evidence that workers with have considerable leverage. in fact, paychecks now growing faster than prices. that is huge. strong wage growth is not really what jerome powell and the fed wants. they want wages to cool even further to help drive inflation down. still, big picture, there s a lot to like about this jobs report. it s just one more indicator that supports a growing sense that the soft landing many thought was basically impossible might just be happening. victor and amarer. all right. not bad news at all, matt egan. thank you. inflation is slowing. wages are rising and recession fears are easing.
have considerable leverage. in fact, paychecks now growing faster than prices. that is huge. strong wage growth is not really what jerome powell and his colleagues at the fed have. they want wages to go even further, to help drive inflation down. still, big picture, there s a lot to like about this jobs report. it s just one more indicator that supports a growing sense that the soft landing many thought was basically impossible might just be happening. victor and amara? matt, thank you. let s get some insight from a cnn global business columnist for the financial times. let s start with the job numbers, vrana. 187,000 jobs added in july. do you agree with those who say this is a goldilocks report, being just right? what does this mean for a potential soft land gds in your
difficult and give you nothing for it, it is a difficult place to be in. the government difficult place to be in. the government says - difficult place to be in. the government says it - difficult place to be in. iie: government says it sticking difficult place to be in. iie: government says it sticking to difficult place to be in. i““i2 government says it sticking to its guns where the public sector pay deals will further drive inflation. the dispute at this point by the unions. fiercely disputed by the unions. and it is certainly true that there were challenges to the living standards of low to middle income families well before the cost of living crisis. a report published by the resolution foundation last year, in partnership with the london school of economics, found that real wages had grown by 33 % a decade from 1970 to 2007 but fell below zero in the 2010s. they say between 2009 and 2014, real wages fell by 6.7%. by 2018, pre pandemic, income inequality was higher in