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this post was submitted on 27 Jun 2024
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United States | News & Politics
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Inflation of 3% per year is lower than median wage growth; it's generally considered somewhat desirable because it transfers wealth from lenders (who tend to be well-off) to borrowers (who are less so)
Its better then more inflation, but like i said, we are still in the lurch, i guess if we ignore all previous inflation then the fact we are breaking even is great news, for those that manage 3% growth in their wages per year. Historically wages are stagnant, and inflation must always climb or the pyramid collapses. Granted i am not versed in economic theory, but i base success in what i can afford per hour worked
Wages weren't stagnant though.
The key thing is that right now, wages are rising at about 4% per year, while prices are rising at about 3% per year. That's a good place to be.
I suppose you have a point, i may be confused with minimum wage, and my personal experience. The price hike on all goods seems to be independent from median wage
Yes, the federal minimum wage hasn't risen; that's static and requires an act of congress to change. What happened is that the pandemic also gave a lot of people negotiating power, so the wages most people earn went up more than prices.