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No, wages have been falling since 2021 when accounting for inflation. https://www.wsj.com/articles/inflation-has-outpaced-wage-growth-now-its-cutting-into-spen
by nostromo 2y ago
No, wages have been falling since 2021 when accounting for inflation.
https://www.wsj.com/articles/inflation-has-outpaced-wage-growth-now-its-cutting-into-spending-11658050200 https://www.wsj.com/articles/inflation-has-outpaced-wage-gro...
Maybe this isn't that Axios journalist's field, but that huge spike of 9.1% annual inflation in 2022 won't be made up for by a 1% difference in 2024. Showing only the current rate and not the cumulative effects seems disingenuous.
- JumpCrisscross 2y ago> Maybe that Axios journalist isn't the smartest You're both right. Real wages are down from the pandemic, but that's because they spiked massively due to the stimulus spending [1]. Real wages today are where they were in Q1 2020, which was the highest they had been since at least 1982. Both the Axios and Journal charts are confusing because they're taking the first derivative of a complex curve. [1] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- PaulDavisThe1st 2y agoThanks for posting that graph. When I went to FRED to get it, i only got a data series to 2022. I consider this be the most definitive measure that I've seen yet.
- s1artibartfast 2y agoTangent: How do you navigate Fred effectively? I can usually find something close to what I want, but not exact through Google searches of the site.
- JumpCrisscross 2y ago> How do you navigate Fred effectively? Kagi :P. I know the names of most of these data series, so it’s searching e.g. real weekly earnings fed fred.
- s1artibartfast 2y agothanks!