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> a bartender... a grocery store worker, bus driver, parks worker, https://www.epi.org/publication/swa-wages-2022/ https://www.epi.org/publication/swa-wages-20

• orwin 3y ago
  You have to understand why though. Just saying it like this lack perspective. If you earned 100k, spent 100k in 2020, and now earn 110k, spend 60k a year, your wage growth over 3 year is 10%,while inflation was 20% (basically my situation). Your saving rate is lower than it used to be (45% vs 50%), but you're fine. If you earned 30k, and spent 25k in 2020, and in 2023 earn 35k and spend 30k, the situation is worse, despite a superior wage inflation (16% over 3 year instead of 10%, for a cost of living inflation of 20% in both case). And I'm not going into the case of people who don't make enough to save even 5k a year, for them, if the wage increases do not match the cost of living inflation, they have to downsize, and sometimes live in their cars for a while (those are often renters and inflation is worse for renters). Most of the invisible homeless in big cities are in that kind of situation. You have to pay people enough for them to be able to go to work, so of course the wage inflation for lower salaries has to match the inflation for renters.