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The chart ends in 2021 and shows a nontrivial increase that year. Real wages are up since the pandemic, with significantly higher growth at the 25th percentile
by UncleMeat 3y ago
The chart ends in 2021 and shows a nontrivial increase that year. Real wages are up since the pandemic, with significantly higher growth at the 25th percentile of household income. You can see the data for 2022 here: https://www.bls.gov/news.release/realer.nr0.htm https://www.bls.gov/news.release/realer.nr0.htm.
The cost to purchase a house using a mortgage is indeed way up, but surely it is worse to focus on this specific metric rather than the general basket of goods.
- class3shock 3y agoPersonal income after tax from 2019 to 2021 went up from $27,700 to $28,800 or about 4%. I won't call that trivial but I would hardly call that inline with the increase in costs we've seen. I don't see more direct data after that for salary but after tax household income was down in 2022: https://www.census.gov/library/stories/2023/09/median-household-income.html https://www.census.gov/library/stories/2023/09/median-househ... I think the cost of housing is probably the most important thing to look at since, for most people, it is the highest monthly bill. I think all of the various cost increases that make existing harder are important to look at though.