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That’s exactly right. Real wages are not keeping up with inflation. Inflation is confusing everyone who isn’t used to seeing it. It’s ludicrous to think we are

That’s exactly right. Real wages are not keeping up with inflation. Inflation is confusing everyone who isn’t used to seeing it. It’s ludicrous to think we are not in a recession just because more people retired in the last few years due to COVID and exited the workforce to artificially keep the unemployment rate low. Participation in the workforce declined something like 10% - I don’t have the time find the exact number. But we still have a lower overall workforce than pre-COVID. The 100K per year jobs are declining in availability but there’s millions of jobs at fast food and retail available. It’s obvious that it is purely political as to what makes a “recession.” Meanwhile lots of tech companies have lost 70-80% of their value. But the largest companies, apple, google, and Microsoft are holding up, we all know the small businesses go first.

whimsicalism 4y ago
> Real wages are not keeping up with inflation. Nope? For most people Year/Year and also over the last quarter, real wages have gone up. It is only for the most highly compensated workers (top 10% or so) that wages have not kept up with pricing. [0] [0]: https://realtimeinequality.org/ https://realtimeinequality.org/
- smaryjerry 4y ago
  Real wages have gone significantly since 2020 when COVID hit per the below link. This inequality index website includes both labor and capital - meaning not just wages but income from stocks. Yes the stock market has gone down, the rich own more stocks, and so rich made less money. Wages, the payment for only labor has been declining in real terms due to inflation outpacing wage growth. See this link and the sharp decline.https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
  - whimsicalism 4y ago
    > the stock market has gone down, the rich own more stocks, and so rich made less money My link shows that real factor income for all but the top 10% of earners is up which includes wages and capital income. Your FRED link will have to contend with the fact that those most likely to be unemployed at the start of the pandemic are lower earners which is going to shift up the wages for 2020.
    - smaryjerry 4y ago
      The website you linked as I said includes capital and pretax income which is an absurd way to measure “income.” That includes stocks, 401K, houses, etc. if someone owned a house, the value went up, but if someone didn’t own a house their actual wages are still worth only about the same as 3 years ago.

whimsicalism 4y ago

> Real wages are not keeping up with inflation. Nope? For most people Year/Year and also over the last quarter, real wages have gone up. It is only for the most highly compensated workers (top 10% or so) that wages have not kept up with pricing. [0] [0]: https://realtimeinequality.org/ https://realtimeinequality.org/

smaryjerry 4y ago
Real wages have gone significantly since 2020 when COVID hit per the below link. This inequality index website includes both labor and capital - meaning not just wages but income from stocks. Yes the stock market has gone down, the rich own more stocks, and so rich made less money. Wages, the payment for only labor has been declining in real terms due to inflation outpacing wage growth. See this link and the sharp decline.https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- whimsicalism 4y ago
  > the stock market has gone down, the rich own more stocks, and so rich made less money My link shows that real factor income for all but the top 10% of earners is up which includes wages and capital income. Your FRED link will have to contend with the fact that those most likely to be unemployed at the start of the pandemic are lower earners which is going to shift up the wages for 2020.
  - smaryjerry 4y ago
    The website you linked as I said includes capital and pretax income which is an absurd way to measure “income.” That includes stocks, 401K, houses, etc. if someone owned a house, the value went up, but if someone didn’t own a house their actual wages are still worth only about the same as 3 years ago.