this post was submitted on 28 Nov 2023
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Do you have a source on “wages outpac[ing] inflation”?
Yes, his ass. Hourly wages in 2018 were about 2$ more compared to the 1960s and the increases went to the 90th percentile of earners. And that was before the last big round of inflation.
To be fair, if you look at the median graph it does go ever so slightly up, which I think qualifies as “outpaces.” It is certainly a lot less dire than if inflation was outpacing wages, at least wages keeping pace with inflation is sustainable.
Most people get confused because inflation is already accounted for in most reported numbers.
https://www.bls.gov/news.release/pdf/eci.pdf&ved=2ahUKEwjDiuPqoemCAxULFzQIHRmiCJEQFnoECBIQBg&usg=AOvVaw1jlbP0dE9X_Mpb3XsIXwT4
Broken link?