3 ms·

This would only be the case if wages rose with inflation which they don't.

• throwaway98797 5y ago
  they do at the bottom. people cant live below a certain threshold. business need employees. it is a combo of gov funds and employment that keeps them alive. see % of walmart employees on food assistance.
• javagram 5y ago
  The article notes “ Inflation-adjusted compensation is down in most industries, but there is one notable exception: Leisure and hospitality. That industry's employers are scrambling to find workers, resulting in a 1.6% bump in pay and benefits since December 2019, according to Furman's analysis.” So it really depends on your industry, there are plenty of poor working class who have hospitality jobs.