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And the difference is that other the economy's full time jobs pay a lot less than they used to, relative to costs like housing, education, and healthcare, which
by WhompingWindows 7y ago
And the difference is that other the economy's full time jobs pay a lot less than they used to, relative to costs like housing, education, and healthcare, which have all vastly outstripped wage growth.
- kube-system 7y agoI understand your point, but I'm not sure those are accurate measuring sticks, as people's expectations of housing, education, and healthcare have changed drastically since the boomers' generation. Regardless, it's easy to be an economic powerhouse when most of Asia had yet to undergo industrial revolution, and the rest of the developed world was rebuilding from war. I don't think it's surprising that wages are stagnant -- our economic output has competition now.