4 ms·

Real wages are rising (in fact one of the better periods since the 1980's): https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series

Real wages are rising (in fact one of the better periods since the 1980's): https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q It's a complex topic but a click-bait-y title. It's basically looking at nominal wage growth and comparing it to periods where we had higher inflation. It's poor journalism (potentially intentionally misleading?) to not focus on real wages.

ptr_void 9y ago
I'm a complete layman, but I've heard an economist say something different about real wage rising. Doing some searches, I think making that conclusion might also be misleading. Here's some of the stuff I found out: - There was a recession in 1980s , so it's shouldn't be used as comparison point - If you look at inflation adjusted historic data: http://web.stanford.edu/class/polisci120a/immigration/Median%20Household%20Income.pdf http://web.stanford.edu/class/polisci120a/immigration/Median... - in 2000 adjusted, there hasn't been any increase since 1970s. Since 1970s it's been ~40k in 2000's dollar. Using this: http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/ shows - ~40k in 2000 is 56.8k in today's money. Looking at real wages for in recent times https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N - the last (2015) data shows: 56.5k So, it looks like real wages hasn't grown at all in recent history. Note that I went looking for info to match what I've heard an economist say on youtube video: https://www.youtube.com/playlist?list=PL-uRhZ_p-BM4Pei6Xlr_AiV0pJcb9Mz1k https://www.youtube.com/playlist?list=PL-uRhZ_p-BM4Pei6Xlr_A... (episode 4 is most relevant to current topic)
antisthenes 9y ago
If you adjust that number using the labor force participation rate, you'll get that the real wages have been stagnant since the 1980s, which is to say they haven't risen at all, especially when you consider the gains in output.

ptr_void 9y ago

I'm a complete layman, but I've heard an economist say something different about real wage rising. Doing some searches, I think making that conclusion might also be misleading. Here's some of the stuff I found out: - There was a recession in 1980s , so it's shouldn't be used as comparison point - If you look at inflation adjusted historic data: http://web.stanford.edu/class/polisci120a/immigration/Median%20Household%20Income.pdf http://web.stanford.edu/class/polisci120a/immigration/Median... - in 2000 adjusted, there hasn't been any increase since 1970s. Since 1970s it's been ~40k in 2000's dollar. Using this: http://www.usinflationcalculator.com/ http://www.usinflationcalculator.com/ shows - ~40k in 2000 is 56.8k in today's money. Looking at real wages for in recent times https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N - the last (2015) data shows: 56.5k So, it looks like real wages hasn't grown at all in recent history. Note that I went looking for info to match what I've heard an economist say on youtube video: https://www.youtube.com/playlist?list=PL-uRhZ_p-BM4Pei6Xlr_AiV0pJcb9Mz1k https://www.youtube.com/playlist?list=PL-uRhZ_p-BM4Pei6Xlr_A... (episode 4 is most relevant to current topic)

antisthenes 9y ago

If you adjust that number using the labor force participation rate, you'll get that the real wages have been stagnant since the 1980s, which is to say they haven't risen at all, especially when you consider the gains in output.