return2ozmaJul 15, 2024

Inflation is cooling, yet many Americans say they're living paycheck to paycheck

https://lemmy.world/post/17601144

Inflation is cooling, yet many Americans say they're living paycheck to paycheck - Lemmy.World

>Even as inflation continues to cool into the second half of 2024, many Americans say they’re still struggling to make ends meet. >Roughly one-third of U.S. workers say they’re living paycheck to paycheck and have nearly no money for savings after paying their monthly bills, according to a survey from personal finance website Bankrate.

Show threadKecessa
Inflation can cool down all it wants, it’s reported year on year so prices are still much higher than 5 years ago while wages haven’t increased, deflation or huge wage increases would be necessary to fix that.
Jul 16, 2024 at 2:45amWeb
Show threadEatATacoJul 16, 2024

Wages are outpacing inflation, there’s just a lot of catching up to do.

epi.org/…/average-wages-have-surpassed-inflation-…

Average wages have surpassed inflation for 12 straight months

Average hourly wage growth has exceeded inflation for 12 straight months, according to new Bureau of Labor Statistics data released this morning. This real (or inflation-adjusted) wage growth is a key indicator of how well the average worker’s wage can improve their standard of living. As inflation continues to normalize, I’m optimistic more workers will…

Economic Policy Institute
Show threadkibiz0rJul 16, 2024

% change is a pretty wild metric. It becomes unwieldy at longer time spans, and does a pretty poor job at comparisons.

Can we get like wages vs cost of living, or rent/mortgage as a percentage of income?

Show threadEatATacoJul 16, 2024
What I linked was wage growth vs inflation, especially among generally lower paid workers (hourly).
Show threadgoferking (he/him)Jul 16, 2024
No because that wouldn’t make things look good