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Wages has roughly stagnated while inflation has driven up the price of goods for a long time in America, yet we didn't do anything to help those who had less an
by Drakim 5y ago
Wages has roughly stagnated while inflation has driven up the price of goods for a long time in America, yet we didn't do anything to help those who had less and less buying power. They simply had to get another job, or if they couldn't, forgo good shelter and medicine. If you can't afford rent, you get thrown out on the street, that's just life.
Meanwhile, despite this downwards trend that's been shrinking the middle class in America, American industry has actually been booming the last ten years. America is richer than ever before, but it's workers are paid (due to inflation) less than they were.
So it's real hard to emphasize with the businesses who are seeing thinner margins because of higher labor costs.
- mc32 5y agoAgreed that low skill labor wages have stagnated due to an oversupply of cheap labor and minimum wage lagging inflation... But, regardless people are opting to stay home with government benefits over slightly better earnings via work. So they are okay with having less money if it means doing nothing.
- smaryjerry 5y agoThat is false. Wages have increased significantly per the chart for median real weekly earnings from the fed. Real means it has been adjusted for inflation and median is the middle wages. Median is better than average because it accounts for uneven distribution of wealth that you claimed is occurring. https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q