3 ms·
Actually the opposite was stated in the paper. > This compression accelerated in 2021: real wage growth in the bottom two deciles remained positive and close t
by manlymuppet 2mo ago
Actually the opposite was stated in the paper.
> This compression accelerated in 2021: real wage growth in the bottom two deciles remained positive and close to its pre-period pace, while all other deciles experienced declines of about 2 percent, roughly four percentage points below their pre-period growth
- gchamonlive 2mo agoIsn't deciles every 10%? The top 90% is too rough, you need to compare the top 0.09% and the rest to see how much the social gap has widened
- manlymuppet 2mo agoThat’s true, and you could even use any measure you’d like. Perhaps the Gini coefficient. I should specify that I’m not trying to make direct claim about inequality. Only that, for anyone against the ails of inequality, the bottom wage earners getting more (and even outpacing other deciles) is a win.
- gchamonlive 2mo agoNot by itself, they all need to be at least outpacing inflation
- manlymuppet 2mo agoThey (the bottom deciles) were outpacing inflation. By a significant margin too. That’s at the very least, a good stride against inequality’s problems.
- gchamonlive 2mo agoYou can't put electricity, meat, coffee... in the same bag as Teslas and iPhones, otherwise you'll hide the type of inflation that makes the lower classes unable to pay rent and buy food while still being able to access the latest smartphone and SUVs. https://www.indexbox.io/blog/food-inflation-hits-us-consumers-in-may-2026-beef-and-coffee-prices-surge/#:~:text=As%20of%20May,and%20herd%20rebuilding. https://www.indexbox.io/blog/food-inflation-hits-us-consumer...