Submitted 3 weeks ago by MicroWave@lemmy.world to economics@lemmy.world
Wage growth for a large swath of Americans is being outpaced by the rate of inflation, according to data from Indeed, which reported people with low- and middle-paying jobs are likely feeling the most pressure.
Yeah, “rising wages” are mostly due to the wage offered to new employees. Existing employees don’t get shit and inflation is still eating away at their buying power.
The yogurt I like has doubled in price over the last year. My salary went up 4%. I’m looking for a new job pretty hard right now. Like the place I’m at, has a pension, been there 9 years, but fuck you pay me or I’m out. The opportunity cost of staying at a place who’s wages don’t keep up with inflation is too damn high.
Job hopping has long been known to be the best way to increase earnings for most people - particularly those in corporate jobs.
seems solely for corporate, mangerial, admin jobs.
Sure, that doesn’t make it a practical solution for everyone though
This article is about recent changes, under Biden wage growth was doing a lot better. But that’s stagnated under Trump (to my understanding) and is being hurt by rising costs due to tariffs.
Effectively tarrifs and bad trade policy by Republicans is causing inflation that can’t be offset by wages (because the costs are caused by taxes making everything more expensive).
It has been shown time and again that administrations under Republican are worse for the economy than when under Democrats. I saw something recently that went back at least three or four decades showing this pattern, but haven’t the time or ability right now to search it up. I’m sure it can be found easily enough.
Only 40%?
So about 50% above and 50% below?
Cool so head mean to the office so they can refuse salary increases but you essentially get a pay cut since you’re not losing $12000 for daycare and $3000 for parking spaces
It outpaced visually everyone over the last 5 years at some point. It’s all just a big fucking joke to the current administration.
The economy is a fucking mess, and Trump only has time to fuck more of our poorest people, and even our middle class, over in creative and new ways.
Not just inflation but also everything has become a “small monthly service” now and those prices rise every few months. Life was simpler and less fee-based when I was a kid and teenager, just less expenses in general.
Captain obvious there. This is what happens when you keep pulling the levers that dump your economy into a fucking depression, jack tariffs up for no reason, burn your trade agreements, and slash what production you have left by freaking out. beating up, and forcefully deporting the immigrant labor force AND tourists. Fucking prices go up to unaffordable range, hence, FUCKING INFLATION! Soon inflation will outpace wage growth for 99% of Americans. But I guess we’re ok with that as long as the billionaires are safe and constantly draining the system.
From the article, the 40% with falling wages are not the ones I expected. Custodians, grocers, and service sector are in the top 50% it seems, their wages are doing well vs inflation. It’s surgeons and programmers who are seeing wages drop.
So it’s kinda a weird headline. From the article, this sounds like the labor gains I would want to see.
There’s a solution to this, but I don’t think a lot of people here will like it. Fix the money and stop measuring your worth in worthless fiat currencies
For the conservative people, hold and measure your net worth in gold and you’ll notice things get cheaper.
For those, like myself, who are native to the internet, do the same thing but with Monero.
Overtime tax is gone and they cheered as their buying power and rights and social services and education and retirements and possibly friends and family are taken away from you by a group of people who support a rapist felon child diddler. God™ bless the USA.
bear@lemmy.blahaj.zone 3 weeks ago
The purchasing power of average Americans has been in decline for generations.
pdxfed@lemmy.world 2 weeks ago
The trickle down is almost here, just need to give the rich and powerful just a few more tax breaks, monopolies, legal impunity. Just stay the course.