The gains are absolutely not equal across the United States, but inflation-adjusted median earnings for adults working full time is up 14% since 1990. Here is data directly from the BLS via FRED: https://fred.stlouisfed.org/series/LES1252881600Q#0
Inflation hit almost 9% it is still above 3% from that 9% high. Our wages have declined since 2020 by almost $40/ week median per this data. Prices are still going up albeit slower than they were from that 9% high. I just don't get the we are better off argument at least with real wages.
The data for 2020 is skewed because so many low income workers were out of work during the pandemic while high-income earners could continue working from home. Real wages already account for inflation, and are still higher over the past 20 years. The "better off" argument really depends on what you're comparing it to.
As you rightly pointed out before, those gains are not equal. There are real disparities in how the gains have been distributed. Inflation, particularly for food, hits low-income workers harder. A lot of low-income workers aren't better off than they were last year, but are better off since the 1990s.
My local “Mom & Pop” pizzeria charges about $20 now for a large pepperoni. The quality of Little Caesars is horrible now which is why it is cheap. LOL!
Family grocery bills have gone up a third or more since 2021. I question whether food is affordable. Depends on what you are willing to eat.
There's definitely a wide variety of pizza prices out there. A large Pepperoni from Dominos is $16, a cheese is less.
Groceries have indeed gone up 25% before the Pandemic, as we can see in the sharp rise of the blue line in the graph above. Yet, relative to the situation in 1990, things are still significantly better today.
We'll need continued wage growth to fully overcome the price hikes of the last few years.
😃https://www.nytimes.com/2023/12/20/movies/home-alone-mccallisters-wealth.html?unlocked_article_code=1.Hk0.Qy2f.US2YJKCYbjzN&smid=url-share
Amazing! We needed this a few days ago!
Real wages have barely budged in decades. Most gains have gone to higher earners... Paychecks are bigger, purchasing power is not.
https://www.pewresearch.org/short-reads/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/
The gains are absolutely not equal across the United States, but inflation-adjusted median earnings for adults working full time is up 14% since 1990. Here is data directly from the BLS via FRED: https://fred.stlouisfed.org/series/LES1252881600Q#0
Inflation hit almost 9% it is still above 3% from that 9% high. Our wages have declined since 2020 by almost $40/ week median per this data. Prices are still going up albeit slower than they were from that 9% high. I just don't get the we are better off argument at least with real wages.
The data for 2020 is skewed because so many low income workers were out of work during the pandemic while high-income earners could continue working from home. Real wages already account for inflation, and are still higher over the past 20 years. The "better off" argument really depends on what you're comparing it to.
As you rightly pointed out before, those gains are not equal. There are real disparities in how the gains have been distributed. Inflation, particularly for food, hits low-income workers harder. A lot of low-income workers aren't better off than they were last year, but are better off since the 1990s.
My local “Mom & Pop” pizzeria charges about $20 now for a large pepperoni. The quality of Little Caesars is horrible now which is why it is cheap. LOL!
Family grocery bills have gone up a third or more since 2021. I question whether food is affordable. Depends on what you are willing to eat.
There's definitely a wide variety of pizza prices out there. A large Pepperoni from Dominos is $16, a cheese is less.
Groceries have indeed gone up 25% before the Pandemic, as we can see in the sharp rise of the blue line in the graph above. Yet, relative to the situation in 1990, things are still significantly better today.
We'll need continued wage growth to fully overcome the price hikes of the last few years.
https://fred.stlouisfed.org/graph/?g=1cTiv
85 million Americans make less than $40K (something). I don't see the wage growth happening. America becomes more stratified by the day.