Paul KrugmanOne thing I've been noticing in my correspondence is how many people think inflation is still running wild; the big deceleration in the 2nd half of 2022 hasn't broken through to public consciousness 1/
Several reasons for this. Too many media reports focus on yoy inflation, so miss the big turn. Traditional core inflation still reflecting rent increases from a year ago. And asymmetric reporting: breathless coverage of rising inflation, disinflation not so much 2/
But anyway, the truth is striking. Here's 3-month "supercore" excluding food energy shelter and used cars: 3/
What about wages? Running hotter than eve of the pandemic. But here's a longer view, using nonsupervisory wages (longer time series) 4/
Gene Cowan 🏳️🌈@pkrugman This is another interesting one. My wages have not budged in years, nor have those of anyone I know. Does this data only apply if one finds a new job?
Richard Keppler@genecowan @pkrugman I’m sorry to hear it.
2021 I lobbied hard and got a 6% rise. Near the end of 2022 I was informed I was getting another 12%, and I didn’t need to lobby for it. Perhaps you should ask.
2021 I lobbied hard and got a 6% rise. Near the end of 2022 I was informed I was getting another 12%, and I didn’t need to lobby for it. Perhaps you should ask.
@RichardKeppler @pkrugman Yeah. I asked last year and still waiting. Problem is, in my line of work — graphic design/creative — it’s a full-time job to search elsewhere because of the unique requirements of putting together portfolios, etc. 🤦🏻♂️
@RichardKeppler @pkrugman also, I work for a “good cause” non-profit, as is my preference over a corporation; but that doesn’t stop higher-ups getting raises.
OaklandWellesley@genecowan @RichardKeppler @pkrugman The bosses will always take care of themselves. You should too.