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But the big problem with CPI is that it fudges housing costs so that it doesn't properly take into account the massive rise in property prices. Heres how it co

• JumpCrisscross 8y ago
  The U.S. measures mean real wages adjusted by cost of living to the county level. For example, Manhattanites earned 39.9 1999 U.S. dollars in 2009; that went up, adjusting for cost of living, to 50.36 in 2016 [1]. This trend, of higher real wages today than pre-crisis, is substantiated across the population. Real wages have not gone up as much as productivity. And their gains have been unequally distributed. But it is important, in such discussions, to maintain objectivity. Most Americans are better off than they were before the crisis. [1] https://fred.stlouisfed.org/series/MWACL36061 https://fred.stlouisfed.org/series/MWACL36061