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That's simply not true. [1, 2] They've stayed roughly flat in constant dollars since 1964 indicating that they have, in fact, kept pace with inflation. Average
by arcticbull 5y ago
That's simply not true. [1, 2] They've stayed roughly flat in constant dollars since 1964 indicating that they have, in fact, kept pace with inflation. Average wage was $2.50 in 1964, and today it's about $25, in nominal terms. Wages in the US have, in fact, kept pace with inflation for decades.
They haven't kept pace with productivity growth, but that's a different matter, and one worth paying attention to.
[1] https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...
[2] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q