4 ms·
The implicit point was that the current increases are insufficient to catch up to the value lost due to inflation over the past decade due to compounding effect
by mrcode007 5y ago
The implicit point was that the current increases are insufficient to catch up to the value lost due to inflation over the past decade due to compounding effects.
More details:
https://insight.kellogg.northwestern.edu/article/wage-stagnation-in-america/ https://insight.kellogg.northwestern.edu/article/wage-stagna...
- mrcode007 5y agoAs a side note, during the pandemic, I drove from NYC to SF by car and when being confronted with the non-coastal real America reality, I don’t think a one off 10% wage raise from $20/hr to $22/hr will make a lot of difference to a lot of people who are in a whole lot of serious economic need. As a simple example, the prices of wheat this year increased by more than 50% which translates directly into cost of food.