5 ms·
Median wage and median household income are two separate things. Median household income can mean two parents are working... Take a look at inflation adjusted
by nickthemagicman 5y ago
Median wage and median household income are two separate things.
Median household income can mean two parents are working...
Take a look at inflation adjusted
wage growth for a singular person over time.
https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/%3famp=1 https://www.google.com/amp/s/www.pewresearch.org/fact-tank/2...
- lottin 5y agoFair enough, household income is not the same as wages, but the data that you link to shows wages have kept the pace with inflation, contrary to what you were saying.
- nickthemagicman 5y agoGood point. I stand corrected. I grabbed the first legit looking domain on Google (pew) for a reference thinking it matched something else I read and proved myself wrong. Good catch. So apparently the fed allowing inflation rates to increase is also paralleled by wage increases somehow? I'm guessing due to the stimulation of the economy by the inflation?
- lottin 5y agoInflation is an increase in the price level and wages are a price too. This means, in principle, we should expect wages to increase at the same rate as other prices, all else equal. In practice wages will not always move with inflation perfectly, because again wages are prices and prices are influenced by demand and supply, in addition to changes in the price level.