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Actually, wages went up 4.5%. Not bad -- and probably ahead of inflation. https://www.nytimes.com/live/2024/02/02/business/jobs-report-january-economy/0e009478

Actually, wages went up 4.5%. Not bad -- and probably ahead of inflation. https://www.nytimes.com/live/2024/02/02/business/jobs-report-january-economy/0e009478-ccb0-5bbc-8df0-e0df68a21f76?smid=url-share https://www.nytimes.com/live/2024/02/02/business/jobs-report...

asow92 3y ago
wages going up 4.5% after three years of inflation averaging above 4.5% is not an improvement.
- JumpCrisscross 3y ago
  > wages going up 4.5% after three years of inflation averaging above 4.5% is not an improvement Real wages. Real wages are up [1]. We’re not up to the sugar high of the pandemic’s stimulus era, which is what people in tech are feeling. But we’re making more than since any time before Q4 2019 and any time since Q4 2021. [1] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
  - asow92 3y ago
    My lived experience tells me that's just not true, but sure, fancy graphs never lie.
    - JumpCrisscross 3y ago
      > My lived experience tells me that's just not true Yes, in a country of 330 million, the individual qualitative will vary from the quantitative central tendency. This is practically guaranteed by statistics. (As is the impossibility of compiling “lived experiences” into a meaningful national consensus.) I know multiple people laid off, all in tech, mostly in California. That doesn’t change that it’s virtually impossible for me to find someone to build a deck in Wyoming, nor the trouble my friends hiring in New York, Austin and Miami are having.
      - asow92 3y ago
        I definitely agree with you and understand that. It just seems like everyone around me in my life is struggling more than they were four years ago, and are scared of being laid off whether they're in tech or not. I don't have numbers. Just anecdotes.
        JumpCrisscross 3y ago
        Where are you geographically?
        asow92 3y ago
        I work remote in tech and live in a rather economically depressed and forgotten area of the country. Given your background in finance, I am genuinely interested in your take on this region and how we could improve it. The area is the Southern Tier of the state of New York. Specifically, Elmira NY, born and raised, but moved to NYC for several years for work and back. The Elmira/Corning area had a booming industrial economy before the effects of neoliberalism and offshoring. Very few people in tech, but there are a handful remote workers in the area like myself. Typically, the area is more of a service and industrial economy with a small amount of tourism from the nearby Finger Lakes region. Nearby Corning Inc. is laying off thousands and talking about moving their headquarters down to NC, which would decimate the area even further. There is talk about NYS and Chuck Schumer wanting to inject millions to make this area a lithium ion and fab production hub, but many locals are skeptical that will materialize. While near-shoring and re-shoring trends sound promising, many feel as if this area does not have the same geographical advantage it had during the gilded age and into the early-mid 20th century.
        linehedonist 3y ago
        The rust belt continues to contract and perish.
        asow92 3y ago
    - tekla 3y ago
      Ok, what numbers are you using?
      - asow92 3y ago
        See my response to JumpCrisscross above.
        tekla 3y ago
        Everyone that I know in a major metropolitan area are all employed. Actors and Cameramen are back at work and all tech people are employed. My anecdotes vs your anecdotes vs hard numbers. Who wins?
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asow92 3y ago

wages going up 4.5% after three years of inflation averaging above 4.5% is not an improvement.

JumpCrisscross 3y ago
> wages going up 4.5% after three years of inflation averaging above 4.5% is not an improvement Real wages. Real wages are up [1]. We’re not up to the sugar high of the pandemic’s stimulus era, which is what people in tech are feeling. But we’re making more than since any time before Q4 2019 and any time since Q4 2021. [1] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- asow92 3y ago
  My lived experience tells me that's just not true, but sure, fancy graphs never lie.
  - JumpCrisscross 3y ago
    > My lived experience tells me that's just not true Yes, in a country of 330 million, the individual qualitative will vary from the quantitative central tendency. This is practically guaranteed by statistics. (As is the impossibility of compiling “lived experiences” into a meaningful national consensus.) I know multiple people laid off, all in tech, mostly in California. That doesn’t change that it’s virtually impossible for me to find someone to build a deck in Wyoming, nor the trouble my friends hiring in New York, Austin and Miami are having.
    - asow92 3y ago
      I definitely agree with you and understand that. It just seems like everyone around me in my life is struggling more than they were four years ago, and are scared of being laid off whether they're in tech or not. I don't have numbers. Just anecdotes.
      - JumpCrisscross 3y ago
        Where are you geographically?
        asow92 3y ago
        I work remote in tech and live in a rather economically depressed and forgotten area of the country. Given your background in finance, I am genuinely interested in your take on this region and how we could improve it. The area is the Southern Tier of the state of New York. Specifically, Elmira NY, born and raised, but moved to NYC for several years for work and back. The Elmira/Corning area had a booming industrial economy before the effects of neoliberalism and offshoring. Very few people in tech, but there are a handful remote workers in the area like myself. Typically, the area is more of a service and industrial economy with a small amount of tourism from the nearby Finger Lakes region. Nearby Corning Inc. is laying off thousands and talking about moving their headquarters down to NC, which would decimate the area even further. There is talk about NYS and Chuck Schumer wanting to inject millions to make this area a lithium ion and fab production hub, but many locals are skeptical that will materialize. While near-shoring and re-shoring trends sound promising, many feel as if this area does not have the same geographical advantage it had during the gilded age and into the early-mid 20th century.
        linehedonist 3y ago
        The rust belt continues to contract and perish.
        asow92 3y ago
  - tekla 3y ago
    Ok, what numbers are you using?
    - asow92 3y ago
      See my response to JumpCrisscross above.
      - tekla 3y ago
        Everyone that I know in a major metropolitan area are all employed. Actors and Cameramen are back at work and all tech people are employed. My anecdotes vs your anecdotes vs hard numbers. Who wins?
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