29
Americans’ Wages Are Higher Than They Have Ever Been, and Employment Is Near Its All-Time High
(www.americanprogress.org)
this post was submitted on 17 Oct 2024
29 points (59.5% liked)
News
23367 readers
4343 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
https://cdn-0.inflationdata.com/articles/wp-content/uploads/2023/12/Inflation-Adjusted-Home-Prices.png
1975 inflation adjusted housing price vs. 2023 inflation adjusted housing price. Sure, everything in the basket is adjusted for but the biggest single cost of any of our lives is now double. I can get a BigAss TV for $300 and subsidized milk for $3.70 but my house is $500k
Yes, but it's included in the proportion to which you buy those things. So if you're spending a lot less on other things, but more on housing, it's a wash for your overall expenses. The point is that compared with overall expenses, wages went up more.
I don't think that's correct, but I'm no economist.
That's literally a textbook definition of inflation.
Well something is wrong, because my equals in the 1970s had a higher quality of life than my peers do now. Maybe tradesmen just got left behind because those wages now include people making $150k as entry level programmers, etc.
It's describing an average. There are definitely subgroups doing both better and worse
It's not subjective though.
This is misleading from the first phrase. There is no way to calculate the "price level" because it doesn't exist.
When people choose their "basket" and its weights, that subjective choice determines a "price level".
There is no objective price level.