Some quotes to remember from Corbin Trent (about the US Economy):

"Two full-time workers today have less purchasing power than a single worker did in 1950."

"Any politician promising affordability without a bold plan to shift power back to working people is full of shit."

"We need to reverse a 50-year transfer of $79 trillion from the bottom 90% to the top 1%"

https://www.americasundoing.com/p/it-works-if-you-work-it

#Economics #Inflation #RealWages #PurchasingPower #Inequality #Politics #USPoli #Unions #TaxTheRich

> In real terms, full-time total average weekly earnings fell by 2 per cent over the year to May 2023.
> Rather than employees being "better off", average full-time #wages actually fell in real terms by $2,012.92 over #Australia Labor's first year in office.
> So, in real terms, average weekly total earnings slipped by 2 per cent in #Labor's first year.
> "Earnings have gone backwards, it's as simple as that," Professor Hayward said.

https://www.abc.net.au/news/2023-10-20/fact-check-3700-better-off-per-year-jim-chalmers/102986574

The federal treasurer should know that #RealWages are what people actually have to pay their #CostOfLiving; I don't get to delay my bills from last year until this week's wages.

The Reserve Bank can't help us with this; the federal treasurer can, by spending on what real people need, today and tomorrow.

We need to demand they do right by us.

#AusPol

Real wages fell in most European countries after record-high inflation eroded most of the nominal wage growth.

Which countries have seen the biggest changes in salaries?

https://www.euronews.com/next/2023/08/21/real-wages-are-down-in-europe-which-countries-have-seen-the-biggest-changes-in-salaries

#Europe #Inflation #Wages #RealWages #Economics