That graph kind of sidesteps the actual problem. Inflation has run away so much that 1973 isn’t nearly enough. I know that seems weird because they used real terms but median wage increases since 1974 have lost to core inflation over the decades by over a hundred points.
What we’re actually seeing here is the worth of money adjusting. But if you put core inflation on there it would be an even higher line.
It’s worth mentioning that WEC is heavily pro-corporate and neo liberal. They’d love to push a graph that made it seem like everyone was panicking for no reason.
That graph kind of sidesteps the actual problem. Inflation has run away so much that 1973 isn’t nearly enough. I know that seems weird because they used real terms but median wage increases since 1974 have lost to core inflation over the decades by over a hundred points.
What we’re actually seeing here is the worth of money adjusting. But if you put core inflation on there it would be an even higher line.
It’s worth mentioning that WEC is heavily pro-corporate and neo liberal. They’d love to push a graph that made it seem like everyone was panicking for no reason.