5 ms·

Wage growth has been over 6% for the last 2 years, with a cumulative 15%+ increase since the pandemic started.

by avarun 3y ago

nonethewiser 3y ago
That’s good to hear
sweeter 3y ago
It's closer to 3-4% and it's over shadowed by inflation by a bit. On top of that, corporate profits are higher than ever and workers are seeing less and less each year. That ridiculous profit is not trickling down
soperj 3y ago
How much of that is Management?
- avarun 3y ago
  CEO pay was higher in 2000 than in 2021. https://twitter.com/mattyglesias/status/1669300665686843392 https://twitter.com/mattyglesias/status/1669300665686843392
  - resist_futility 3y ago
    I mean it still doubled in 12 years from 1995-2007 while workers increased by ~10% based off that graphic. The stock holders are the only ones coming out on top with a more than quadruple in value since 1995.
  - soperj 3y ago
    From the data in the post (https://twitter.com/mattyglesias/status/1669300665686843392/photo/1 https://twitter.com/mattyglesias/status/1669300665686843392/...) Actual compensation is higher than in 2000, and actual compensation has more than quadrupled since 1995. This post seems like more fun with math and stats and cherry picking dates(right before the dotcom bust) than anything.
waboremo 3y ago
You'll want to look at worker's share of corporate income for the full picture of wages and prices, and that has not recovered since 2008.
- WalterBright 3y ago
  The correct comparison is worker "total compensation", not wages. Total compensation includes the value of the benefits package, and is often an additional 40% over salary. The benefits package includes: 1. stock options 2. stock grants 3. health plan 4. 401k employer contributions 5. sick leave 6. vacation leave 7. maternity/paternity leave 8. employer paid social security taxes 9. other payroll taxes supposedly paid by the employer 10. retirement benefits
  - quadrifoliate 3y ago
    Let's go through them one by one. > 1. stock options > 2. stock grants Very few regular people get these. Negligible if you consider the average worker. > 3. health plan I have not heard of an influx of health plans getting better over the last few years, have you? If anything, they seem to tack on more fees and deductibles every year. > 4. 401k employer contributions Negligible variations here, it's usually a single digit percentage. Haven't heard of a ton of employers suddenly upping these or anything. > 5. sick leave > 6. vacation leave > 7. maternity/paternity leave It's possible that employers have actually gotten a bit more liberal in these respects over the past few years. I am glad to see more companies acknowledging that paternity leave exists. > 8. employer paid social security taxes > 9. other payroll taxes supposedly paid by the employer Huh? How would this change my life for the better? Not sure this is a “benefit”, the employer wouldn't pay it if it wasn't legally required. > 10. retirement benefits You mean just the existence of a 401(k) plan? That's quite standard, few employers offer any sort of perks here; and they are usually large tech companies.
    - jntvjnvutnuvt 3y ago
      There is close to $1 trillion spent on Medicaid a year.
ulfw 3y ago
And I've been unemployed for almost that long as no one is hiring experienced Product leaders (or like recently offered me 80% less!)
croes 3y ago
Average or median? And it seems inflation was higher so it actually wage shrinking https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...
no_wizard 3y ago
It didn't beat inflation (at best it kept pace) on the whole. While even with some down turn the S&P is up 37%[0] by comparison and this is just using a relatively naive composite metric [0]: https://ycharts.com/indicators/sp_500_3_year_return https://ycharts.com/indicators/sp_500_3_year_return

Wage growth has been over 6% for the last 2 years, with a cumulative 15%+ increase since the pandemic started.

by avarun 3y ago

Wage growth has been over 6% for the last 2 years, with a cumulative 15%+ increase since the pandemic started.

nonethewiser 3y ago

That’s good to hear

sweeter 3y ago

It's closer to 3-4% and it's over shadowed by inflation by a bit. On top of that, corporate profits are higher than ever and workers are seeing less and less each year. That ridiculous profit is not trickling down

soperj 3y ago

How much of that is Management?

avarun 3y ago
CEO pay was higher in 2000 than in 2021. https://twitter.com/mattyglesias/status/1669300665686843392 https://twitter.com/mattyglesias/status/1669300665686843392
- resist_futility 3y ago
  I mean it still doubled in 12 years from 1995-2007 while workers increased by ~10% based off that graphic. The stock holders are the only ones coming out on top with a more than quadruple in value since 1995.
- soperj 3y ago
  From the data in the post (https://twitter.com/mattyglesias/status/1669300665686843392/photo/1 https://twitter.com/mattyglesias/status/1669300665686843392/...) Actual compensation is higher than in 2000, and actual compensation has more than quadrupled since 1995. This post seems like more fun with math and stats and cherry picking dates(right before the dotcom bust) than anything.

waboremo 3y ago

You'll want to look at worker's share of corporate income for the full picture of wages and prices, and that has not recovered since 2008.

WalterBright 3y ago
The correct comparison is worker "total compensation", not wages. Total compensation includes the value of the benefits package, and is often an additional 40% over salary. The benefits package includes: 1. stock options 2. stock grants 3. health plan 4. 401k employer contributions 5. sick leave 6. vacation leave 7. maternity/paternity leave 8. employer paid social security taxes 9. other payroll taxes supposedly paid by the employer 10. retirement benefits
- quadrifoliate 3y ago
  Let's go through them one by one. > 1. stock options > 2. stock grants Very few regular people get these. Negligible if you consider the average worker. > 3. health plan I have not heard of an influx of health plans getting better over the last few years, have you? If anything, they seem to tack on more fees and deductibles every year. > 4. 401k employer contributions Negligible variations here, it's usually a single digit percentage. Haven't heard of a ton of employers suddenly upping these or anything. > 5. sick leave > 6. vacation leave > 7. maternity/paternity leave It's possible that employers have actually gotten a bit more liberal in these respects over the past few years. I am glad to see more companies acknowledging that paternity leave exists. > 8. employer paid social security taxes > 9. other payroll taxes supposedly paid by the employer Huh? How would this change my life for the better? Not sure this is a “benefit”, the employer wouldn't pay it if it wasn't legally required. > 10. retirement benefits You mean just the existence of a 401(k) plan? That's quite standard, few employers offer any sort of perks here; and they are usually large tech companies.
  - jntvjnvutnuvt 3y ago
    There is close to $1 trillion spent on Medicaid a year.

ulfw 3y ago

And I've been unemployed for almost that long as no one is hiring experienced Product leaders (or like recently offered me 80% less!)

croes 3y ago

Average or median? And it seems inflation was higher so it actually wage shrinking https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/ https://www.statista.com/statistics/1351276/wage-growth-vs-i...

no_wizard 3y ago

It didn't beat inflation (at best it kept pace) on the whole. While even with some down turn the S&P is up 37%[0] by comparison and this is just using a relatively naive composite metric [0]: https://ycharts.com/indicators/sp_500_3_year_return https://ycharts.com/indicators/sp_500_3_year_return