• Maggoty@lemmy.world
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    5 months ago

    And how much of that is minimum wage going up? Don’t get me wrong I love that. But going from 15k to 20k a year is going from drowning to clinging to a piece driftwood. The full time annual take home needs to be around 40k-50k per person with all the decades of negative real wages.

    • Maggoty@lemmy.world
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      5 months ago

      The last time I looked the real impressive growth was at the lowest ends of the labor market. Effectively it’s state minimum wage increases hitting. Everyone above minimum wage is far less affected by this. But you do have to go looking for that kind of information. Leadership wants to look at the line go up and cheer, not understanding that the person making the median isn’t really affected by this. the other fun thing is since it’s mostly minimum wage movement, they aren’t suddenly being able to afford stuff. They’re still getting crushed by inflation like most people.

      • sunzu@kbin.run
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        5 months ago

        Which is great… lower end is who needs income improvement he most.

        However, this is not a W overall and neither side is able to really provide any plans how to fix structural issues.

        More Perfect Union is another example who is shilling biden recently, i mean i get it… but labor orgs push it too hard, they will lose credibility imho.

        Democratic party is not pro labour, neither is Biden. If people can make their choices, i don’t get my these orgs are taking this risk.

  • capital@lemmy.world
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    5 months ago

    ITT: I haven’t personally experienced it so this is not true.

    I wonder if y’all realize how like conservatives you are sometimes.

    • Maggoty@lemmy.world
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      5 months ago

      The hole was really deep. And that inflation from Covid didn’t go away. Beating inflation now does not negate losing to inflation then. You have to beat inflation that much harder to both gain now and make up for previous losses.

    • beetlejuice0001@lemmy.zip
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      5 months ago

      Personal experience, speaking with the community and hearing their experiences mean nothing. Believe what the owner class says at all times.

      • Triasha@lemmy.world
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        5 months ago

        The article is real and “shit still sucks” can both be true.

        My thought upon reading the headline was “gonna need another 12 years before people start thinking we have turned the corner for the better.”

          • Triasha@lemmy.world
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            5 months ago

            I just figured the hole is that deep.

            Growing up my family could pile into a van for a 2 week road trip or Disney vacation every summer. My grandparents were still working at that time, grandfather was a small business owner mechanic. Grandmother was a part time bookkeeper for a non profit.

            To have that financial independence today, I would need triple my income, or my wife and I would need to double our income.

            I figure a decade+ of real wage gains across the economy would approximate that. Maybe not for me personally, but for the average.

      • capital@lemmy.world
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        5 months ago

        This is hilarious because I’ll tell you the exact same thing I told conservatives during COVID:

        I’ll take data over your anecdotes, thanks.

          • capital@lemmy.world
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            5 months ago

            This is cool and all but the post is about wage growth in the past 12 months.

            It’s like if the post said, “did you know 1+1=2?” and you came along saying, “Yeah well 2+2=4”. It’s not a counter argument to the statement in the post title. It’s another statistic altogether.

            Now go ahead and try to hand wave this way.

            No, handwaving would be saying something like, “well I haven’t experienced this and also none of my friends have so it’s not happening”.

            So, interesting stat which is relevant in a larger context but doesn’t mean the post is factually incorrect.

            • afraid_of_zombies@lemmy.world
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              5 months ago

              The first mate on a ship decided to celebrate an occasion with a “little” stowed away rum. Unfortunately he got drunk and was still drunk the next morning. The captain saw him drunk and when the first mate was sober, showed him the following entry in the ship’s log: “The first mate was drunk today.” “Captain please don’t let that stay in the log”, the mate said. “This could add months or years to my becoming a captain myself.” “Is it true?” asked the captain, already knowing the answer. “Yes, its true” the mate said. “Then if it is true it has to go in the log. That’s the rule. If its true it goes into the log, end of discussion” said the captain sternly. Weeks later, it was the first mate’s turn to make the log entries. The first mate wrote: “The ship seems in good shape. The captain was sober today"

              Once you understand this story all of economics makes sense.

            • Jojo, Lady of the West@lemmy.blahaj.zone
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              5 months ago

              It is worth noting that the article itself does bring employment rate into it, stating that the reason for the real wages spiking like that did in 2020 was the lower wage employees leaving work, thus raising the average wage.

              I haven’t seen the data on employment rate, but if the bottom end of employees are still not back to being as employed as they were at the start of the pandemic, then that may be keeping average wages higher than they’d otherwise be

    • afraid_of_zombies@lemmy.world
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      5 months ago

      I get what you are implying but it really isn’t relevant. Economics is just someone’s opinion at best, more often than not it is propaganda, lying with math. Not at all the same as the vaccine nutters or global warming denying.

    • btaf45@lemmy.worldOP
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      5 months ago

      And your employer will be happy to give you a raise that is less than the statistical average of other people.

  • TheReturnOfPEB@reddthat.com
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    5 months ago

    I wonder what the average income is for US families if one was to remove all the billionaires from the statistic.

      • TheReturnOfPEB@reddthat.com
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        5 months ago

        The real median household income in the United States for 2022 was $74,580, which represents a 2.3 percent decline from the 2021 estimate of $76,3301. This figure is based on money income, which is pretax and does not account for the value of in-kind transfers. It’s important to note that this calculation excludes billionaires and focuses on the broader population.

        It seems that they are already excluded for some reason.

        • joostjakob@lemmy.world
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          5 months ago

          They are not excluded, it’s just the the number of people is used, not the amount of money

          • sunzu@kbin.run
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            5 months ago

            Sounds like the median calc is done after billioares are removed

            There are only about 1000 of them so not really sure what that does in labour market of 160m lol

            • joostjakob@lemmy.world
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              5 months ago

              If you use median, removing or not of 1000 people from a pool of millions indeed has zero impact. My guess is that they worded it like that because they assume people don’t knownwhat a median is, so they describe the practical effect

    • 11111one11111@lemmy.world
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      5 months ago

      Lol I hate to break it to you homie but billionaires are not paid in hourly wages so they are excluded from this report.

  • schizo@forum.uncomfortable.business
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    5 months ago

    Too bad the inflation number they’re using is exactly what the whole ‘lies, damn lies, and statistics’ saying is talking about.

      • GiddyGap@lemm.ee
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        5 months ago

        The article is talking macroeconomics, you’re talking microeconomics. Two different worlds.

      • 555@lemmy.world
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        5 months ago

        Yeah I am not making the ~25% more I should be making to stay even from 2019 to now.

        • HubertManne@moist.catsweat.com
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          5 months ago

          yeah. its funny the unrelated articles that I see related to it. Dr. Pepper becomes the number two soda seller. Don’t know about anyone else but around me dr. pepper is the only soda that comes up as 99 cents for a 2liter about once a month. Even the generics do not go on sale that often to that price and 69 cent 2liters are long gone. As one person pointed out in another thing the fed uses a basket of goods that changes based on what people are buying so if folks buy cheaper options out of necessity then that is not included in inflation numbers.

      • tal@lemmy.today
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        5 months ago

        That’s not incompatible with what they said. They’re saying that the rate of wage increases over the last year outpaced inflation. They also ran below inflation during the COVID-19 crisis.

        COVID-19’s impact started in 2020.

        looks at graph in article

        Okay, though it looks like inflation only took off in early 2021.

        They’re saying that from June 2023 to June 2024, real wages increased. But they also decreased for about two years prior to that, from a couple months into 2021 until about halfway through 2023 – you can see the dark blue line being below 0 for that period (or, equivalently, that the medium blue line was above the light blue line). Halfway through 2023, it then rises above 0, and has been above since that point. But the period of time that it was decreasing (a bit over two years) was about twice as long as the one year that it’s been increasing, and during that decrease period, was decreasing faster than it increased over the last year. So they’re rebounding, but they won’t be where they were immediately prior to the crisis.

        • littleblue✨@lemmy.world
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          5 months ago

          So, basically, they’re not saying anything worthy of a headline, much less a whole article. Thanks for letting us know… smdh.

        • HubertManne@moist.catsweat.com
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          5 months ago

          Thank you. These articles have made no sense to me but admittedly I have not bothered to rtfa after a bit as it felt like bs. This at least explains it. Funny that they are speaking non inflation adjusted which is likely what I am feeling.

  • ZombiFrancis@sh.itjust.works
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    5 months ago

    looks at graph

    Real wages are still below inflation. Nominal wage growth is what is above inflation.

    Which means people are getting more money but it is worth less.

    This means economic growth is down, and therefore the overall economy is demonstrably not in good shape.

    *Edit To add from the article:

    Nominal wage growth is the year-over-year growth in wages, not adjusted for inflation.

    So… this doesn’t mean a whole lot then.

    • btaf45@lemmy.worldOP
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      5 months ago

      Real wages are still below inflation.

      That is impossible since ‘real wages’ are the difference between nominal wages and inflation.

      Nominal wage growth is what is above inflation.

      Which is another way to say that real wages (after inflation) are going up.

    • Jojo, Lady of the West@lemmy.blahaj.zone
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      5 months ago

      The “real wages” is just the difference between the nominal wages and inflation. It’s negative when wages have increased but not as much as inflation, and positive when they’ve increased more than inflation.

      So the literal number of dollars people are getting have been going up the whole time, but for a while there the amount of stuff your money could buy you was going down anyway. It’s recently the case that the amount of stuff you could buy has been going up. Not, you know, a lot, but…

    • roscoe@lemmy.dbzer0.com
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      5 months ago

      Nominal is more than inflation so real is above 0.

      Real just has to be above 0 for inflation adjusted wages to be going up.

      I still call bullshit though without knowing where the increases are. All the increases could be in the top 10% with everyone else going down and only the average is above 0.

      Edit: I was wrong, the growth is actually weighted toward the lower end.

  • TheDemonBuer@lemmy.world
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    5 months ago

    It’s so nice to be leaving another historic, traumatic crisis and entering another depressing normal, where we get to live out our tedious, soul crushing lives while we await the next crisis.

    • littleblue✨@lemmy.world
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      5 months ago

      Not this citizen here, though. This “tal” is a real patriot, sharing half-assed hopium around like smearing shit on his teeth and grinning at us all. 🤦🏼

  • SuiXi3D@fedia.io
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    5 months ago

    Is that why I was fired after training my replacement that was paid less than me? Is that why nobody is paying the amount I was formerly paid for my skill set now?

    Cuz, from my point of view, nobody wants to train and nobody wants to pay employees what they’re worth.

    • sunzu@kbin.run
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      5 months ago

      Not sure who down voted you … I guess people really don’t have to work lol

      Talk about privilege

      • capital@lemmy.world
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        5 months ago

        Not sure who down voted you

        Anyone who thought it was kind of stupid to bring up their getting fired as if it’s a response to income statistics.

          • capital@lemmy.world
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            5 months ago

            When you nitpick grammar and spelling, you’re really scraping the bottom of the barrel.

            And if you’re gonna do it, at least make sure it was actually wrong lol.

            • sunzu@kbin.run
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              5 months ago

              nobody got fired bu you are using wrong term tho

              This is no grammar or spelling, this is propaganda

              PS looks like so did OG comment

              • capital@lemmy.world
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                5 months ago

                Hu? It’s literally in the comment starting this thread…

                Is that why I was fired

      • SuiXi3D@fedia.io
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        5 months ago

        I’d love nothing more than to find a job that A) contributes to my personal development and B) isn’t constantly micromanaging me. Just lemme work, and lemme learn new stuff. That’s all I want, and that’s apparently too much.

        • sunzu@kbin.run
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          5 months ago

          Yeah those jobs are super rare and they don’t last!

          You better come from the right back ground and have elite/good education

          OR

          be super-smart and grind your way to the op

          Only one of these works most of the time lol It is by design.

          All other jobs: Sucks to suck for regular workers.