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> Inflation wiping out income growth Real income means inflation adjusted, so we actually see the median income outpacing inflation right now. > More people o
by ch4s3 3mo ago
> Inflation wiping out income growth
Real income means inflation adjusted, so we actually see the median income outpacing inflation right now.
> More people outside employment than COVID or Great Recession
There's a lot going on here. One factor is that many people retired early during the pandemic and are going to skew this stat. It's also worth pointing out that the labor force participation rate is ~62% and peaked historically at 67%, so it's not that far off.
> Are you ignorant or propaganda peddler
This is needlessly inflammatory.
- lowbloodsugar 3mo ago“Inflation adjusted” is offset by the changes to what inflation measures. And again income has only gone up because people are working multiple jobs.
- ch4s3 3mo agoThe basket of goods is totally transparent and related to things people really buy. Would you want a 2026 inflation number to reference VCR prices? Only 5.3% of US workers have multiple jobs. The long term average is just above 5%. So it is false to claim more workers have multiple jobs according to BLS stats. This number was above 6% for most of the 1990s.
- lowbloodsugar 3mo agoYou are just outing yourself as someone who is a slave to meaningless numbers. Do you think side gigs are reported? You quote unemployment numbers without admitting that people who have given up or simple failed to land a job are not included in those numbers. The numbers are gamed. Feel free to keep showing us who you are.
- ch4s3 3mo ago> Do you think side gigs are reported? Yes. The FRED data includes informal employment. They do months and months of exhaustive surveys all of the country to put together their data. > You quote unemployment numbers without admitting that people who have given up or simple failed to land a job are not included in those numbers. No, I included data about labor force participation, which is only down a little. > The numbers are gamed Prove it.
- lowbloodsugar 3mo agoI mean, everything you just said is trivially refutable with just Google. FRED data isn’t the governments unemployment figures. FRED data relies on people to self report their side gigs that they aren’t paying taxes on? It is a known gap.
- senordevnyc 3mo agoAh. So you’re fine with sources, but just the ones that support your position.
- ch4s3 3mo agoMy source of is FRED, the other poster is just wrong about FRED data.
- deleted 3mo ago[deleted]
- ch4s3 3mo agoThen try to refute it. All of my number came from FRED.