It might be wise to stop hyping how wonderful the economy is for working people who know one thing better than any so-called expert: the economic strain they and their families feel each day.
It might be wise to stop hyping how wonderful the economy is for working people who know one thing better than any so-called expert: the economic strain they and their families feel each day.
“Since the end of 2020, average weekly wages jumped by 18.8 percent—from $860.47 to $1,005.27. But for the average worker that was a mirage. In terms of buying power, which is what really matters, wages after inflation actually fell by 2.9 percent.”
To say nothing of the fact that nobody, EVER, gets an 18.8% raise on a job they are already doing.
You might get a bump like that changing jobs, but if you want stability or, you know, just like the job you have, you might not get a raise at all, or at best a 4% “cost of living raise” which got pissed away when inflation was 9%.
So… 9% inflation in 2022, 4% raise. -5%
3% inflation in 2023, 4% raise. -4%.
3.5% inflation in 2024, 4% raise. -3.5%.
And that’s assuming you weren’t caught by a wage freeze as many were.