Elitist propaganda. Eat the rich
this post was submitted on 10 Sep 2024
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Our family income only went up because I picked up two (very) part time jobs lol it’s amazing that that is somehow a sign we’re back to normal in their eyes.
The data showed that while the typical American household regained its 2019 purchasing power in 2023, it essentially experienced no rise in living standards over that time.
At least they admit the increase didn't help anyone
Apnews...?
Are these elitists in the room with you right now....?
…which still weren’t sufficient for the working class.
Meanwhile prices did not.
my wages have not kept up with inflation since 2020. I don't know whos wages have but its not the case for me. granted I wfh now so that is nice buy the most I have made so far is in 2020 in relation to inflation.
I've never had a job where my wage kept up with inflation. My annual raise was always below inflation, and I felt lucky to get annual adjustments at all.
I suspect this is simply an artifact of math. The rich get richer and the poor get poorer, and as long as the average of the two looks good then the people in charge can nod their heads, say "good good," then go spend a week on their yacht.
you know this is by and large true of me but my pay increased with every job change, which did happen in 2020. I wish I could change my job more often but im single income and I have to maintain healthcare.
Mine do but that’s because I got a new job, which is about the only way to get a raise that beats inflation these days.
Printing it doesn't make it true. Smells of propaganda. How many people do you know who got a raise over 7%?
This was for 2023 and the job market was hot that year. If you switched jobs you probably got a double digit pay rise, and many people were doing it. That's what drove the number.
However, the job market is kinda crashing right now in 2024. So I don't think it's a trend that will continue.
Idk how it could. Haven't tons of companies been announcing layoffs for like tens of thousands of workers for a few years now?
Hundreds of thousands each year for 3 years now, theres websites tracking
So... Still unacceptably low. Got it.
Still unemployed here, applying for jobs that I’m well-qualified for, being rejected without an interview and watching those listing reappear on job sites on a weekly basis.
Til...
If were true wouldn't that mean deflation as wages haven't actually kept up?
No. This is saying that wages have outpaced inflation, which would be disinflation rather than deflation. It's confusing but they are not actually the same thing even though it sounds like they should be.
No it's saying some have.
The latest data came Tuesday in an annual report from the Census Bureau, which said the median household income, adjusted for inflation, rose 4% to $80,610 in 2023, up from $77,450 in 2022. It was the first increase since 2019, and is essentially unchanged from that year’s figure of $81,210, officials said. (The median income figure is the point at which half the population is above and half below and is less distorted by extreme incomes than the average.)
It's not even a good metric to try and say income is getting better
Some have what? I'm not following what you mean.
I do agree its not the greatest metric for a variety of reasons but its still indicative of improvements to the economy. If the opposite was happening it would mean things are getting worse instead of better.
The data showed that while the typical American household regained its 2019 purchasing power in 2023, it essentially experienced no rise in living standards over that time.
Yes, we are finally back to 2019 levels. I still don't understand what point you are making.
The point is its a meaningless stat to try an make it look like it's getting better for workers.
This article talks about income (wages, salary etc).
Poorly, but not like you're great at discussion or reading comprehension
The data showed that while the typical American household regained its 2019 purchasing power in 2023, it essentially experienced no rise in living standards over that time.