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Eeeh, better to adjust to the respective minimum wages (if your country had them at both times) or median wages (if not).
by BlueTemplar 3y ago
Eeeh, better to adjust to the respective minimum wages (if your country had them at both times) or median wages (if not).
- jrockway 3y agoI used the BLS's consumer price index -based calculator: https://data.bls.gov/cgi-bin/cpicalc.pl https://data.bls.gov/cgi-bin/cpicalc.pl The Federal minimum wage has not changed since 2009, but the CPI captures effects like per-state minimums increasing, less people working minimum wage jobs, etc. No "adjust for inflation" calculation will capture the "pain" that every individual experiences from making a purchase, but this index is pretty close.
- BlueTemplar 3y agoThe issue with fancier statistics like these, is that they sweep things under the rug : https://www.thebignewsletter.com/p/strikes-and-bidenomics https://www.thebignewsletter.com/p/strikes-and-bidenomics