GiddyGapThe recession should probably be here by now
tst123It already is and has been for a while for most of us. Stocks might not be down but that’s largely because of inflated earnings. The rich have gotten richer though
tradingeconomics.com/united-states/wage-growth
Wages up more than 5% annually
Inflation 3.2% annually, 4.8% when not counting food and energy
Sorry, the economy is good for the worker and not in any recession
United States Wages and Salaries Growth - July 2023 Data - 1960-2022 Historical
Wages in the United States increased 5.97 percent in June of 2023 over the same month in the previous year. Wage Growth in the United States averaged 6.20 percent from 1960 until 2023, reaching an all time high of 14.79 percent in April of 2021 and a record low of -5.86 percent in March of 2009. This page provides the latest reported value for - United States Wages and Salaries Growth - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
And how much has housing costs increased over a 3 year period vs. wages?
That’s part of CPI. Housing is like one third of it. The only time wages were higher vs. the inflation was during the pandemic, and that’s not a fair comparison since a lot of people lost their jobs so the average wage was affected
The average person now is much better off than in 2019 and it’s not even close
You are living under a rock
They’re wealthy enough to be able to absorb the increased cost without noticing while going “ACK-shually” to anyone who isn’t wealthy enough to aborsb the cost increase without noticing. Arm chair economists are fucking cancer.
You are both arguing from an anecdotal pov and he has data to back up his argument.
Someone is winning and it ain’t you.
Oh yeah, I’m sure clown is technically correct about the term and definition of recession. The people losing are definitely the people who are being priced out of groceries and homes. Acting like everything is fine and the economy is great is pretty fucking tone deaf.
Yup! And that is what they are ignoring. How does billionaires getting richer help me?
His data is zoomed in to YTD and not the past 3 years when the bulk of the inflation happened. You really can’t see that? Zoom out a bit and his data will show a whole different picture.
That’s not true, inflation-adjusted wages are here:
bls.gov/…/usual-weekly-earnings-over-time-total-m…
You can see we’re up in comparison to 2019, and even if this chart cuts off 2023, we’re also up since 2022 anyway
