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> The primary structural issue is that low-income wages have completely stagnated if not fallen with the inflation over the last several decades while wages for
by cmdli 4y ago
> The primary structural issue is that low-income wages have completely stagnated if not fallen with the inflation over the last several decades while wages for mid-upper to ultrawealthy have gone up, dramatically.
This is statistically untrue, though a very popular misconception. Median wages have increased slightly after adjusting for inflation over the past few decades [1]. Minimum wage has wavered a bit since then, but most people are not employed at the federal minimum wage [2].
[1] https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
[2] https://fred.stlouisfed.org/series/LEU0203127200A https://fred.stlouisfed.org/series/LEU0203127200A
- lotsofpulp 4y agoMedian does not capture adjustments at the bottom 2 quintiles, which is where hotel room cleaners probably are: https://fred.stlouisfed.org/series/CXU900000LB0102M https://fred.stlouisfed.org/series/CXU900000LB0102M https://fred.stlouisfed.org/series/CXU900000LB0103M https://fred.stlouisfed.org/series/CXU900000LB0103M https://fred.stlouisfed.org/series/CXU900000LB0104M https://fred.stlouisfed.org/series/CXU900000LB0104M