• 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.