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When you go to a restaurant, you're mostly buying labor Wages have stagnated, but rent and energy has gone up. It's mostly the rent that you are paying for whe
by HarryHirsch 3y ago
When you go to a restaurant, you're mostly buying labor
Wages have stagnated, but rent and energy has gone up. It's mostly the rent that you are paying for when you eat out.
- zdragnar 3y agoMaybe where you are. Service industry job wages have all gone up significantly since pre-covid where I live.
- steveBK123 3y agoWages have not stagnated. It's been a defining feature of our COVID inflation that inequality stats have gotten better. Specifically in HCOL coastal cities, we've seen increases to minimum wage, adjustments to the "tipped minimum wage" laws that mean business needs to cover more of the wage, and finally.. labor shortages causing restaurants to pay over even those increased minimums. It wasn't long ago NYC minimum wage was under $10/hr, with "tipped minimum" being $7/hr. Now you have some restaurants paying $20/hr to get staff.
- onlyrealcuzzo 3y agoPersonal income has not stagnated in constant terms (or real terms): https://united-states.reaproject.org/analysis/comparative-trends-analysis/per_capita_personal_income/tools/0/0/ https://united-states.reaproject.org/analysis/comparative-tr...