20 Apr 2024 10:25 am
I have a sneaking suspicion that you didn't...Fuelman » 20 Apr 2024, 9:55 am » wrote: ↑ It is pretty amusing. Didn't you know you have an extra $1000/month to spend over and above inflation since 2019?
The rub here is wage increases are not equally distributed. No one falls into the average number, you are either above it or below it. Those below the number are the ones not feeling great about the economy. For the 75th percentile, that's a lot of people!
For anyone interested in this subject, this is a must read!
https://www.employamerica.org/blog/cher ... eal-wages/
Focusing on real wages - which are difficult and contentious to measure conclusively - also ignores the politically simpler fact that people just don’t like inflation. Even if they are materially better off - as many low-income households likely are - inflation produces uncertainty which erodes the feeling of security that traditionally attends an increasing income.