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Wages generally kept track with inflation since before covid: https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600
by usaar333 2y ago
Wages generally kept track with inflation since before covid: https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
I really don't understand the dynamic here.
- profmonocle 2y agoThe problem is people don't really see wage increases and inflation as things that balance each other out. They think of raises as something earned that will improve their lifestyle - when inflation cancels that out, it can feel like you were cheated out of that reward. Even if you understand intellectually that a pay increase is a cost of living adjustment, that doesn't mean it isn't disheartening to see your new earnings being eaten up by inflation.
- jazzkingrt 2y agoAdditional point: wage increases not uniformly distributed, whereas costs are moreso.