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Every real wage chart I see looks like workers have made slight but reasonably steady improvements since 2000 and are 10-15% ahead of the 1980s. https://fred.s
by sokoloff 3y ago
Every real wage chart I see looks like workers have made slight but reasonably steady improvements since 2000 and are 10-15% ahead of the 1980s.
https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- jon_richards 3y agoI’ve always assumed the problem is that price increases don’t count as inflation if they come with a “quality” increase, but that doesn’t help someone who now needs to spend more to survive. So it can both be true that inflation-adjusted wages are rising and it is becoming harder to make ends meet. A wage that supported a cowboy with two sets of clothes, a house that wouldn’t pass any building codes, a horse instead of a car, and no phone is not going to support a modern worker even if “adjusted” for inflation.
- sokoloff 3y agoYour comment makes me wonder what the relative total cost of a horse vs a car is.