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I don't know what reports you're cherry picking from but allow me to introduce you to some informative charts from the St Louis Fed. Consumer Price Index for A
by g8oz 3y ago
I don't know what reports you're cherry picking from but allow me to introduce you to some informative charts from the St Louis Fed.
Consumer Price Index for All Urban Consumers: Food in U.S. City Average https://fred.stlouisfed.org/graph/?g=166b0 https://fred.stlouisfed.org/graph/?g=166b0
Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average https://fred.stlouisfed.org/graph/?g=166b6 https://fred.stlouisfed.org/graph/?g=166b6
Have nominal wages really kept up with what we see in these charts? Is there a report using selective data to confirm that assertion?
- Robotbeat 3y agoYou are making good points by looking at broader indexes HOWEVER note that my previous wages link was adjusted for overall inflation, which includes more than just groceries and rent, so if going by an even broader index, the wages HAVE kept up with inflation, although just barely. Still impressive for wages to do so well even with a very low unemployment rate and suffering through two major shocks (COVID-19 and the food/energy price shock of the Russian invasion of Ukraine) and the Fed’s increase in interest rates to keep inflation from spiraling out of control (due to those two spikes, plus the accumulated effects of years of monetary stimulus to recover from the Great Recession). https://ycharts.com/indicators/us_real_average_weekly_earnings https://ycharts.com/indicators/us_real_average_weekly_earnin... Overall I’d still say that between low unemployment and wage growth keeping up with inflation, we’re doing better than nearly any other time in history.