Average wages have surpassed inflation for 12 straight months
www.epi.org
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…
  • ZombiFrancis@sh.itjust.works
    53·
    6 months ago

    looks at graph

    Real wages are still below inflation. Nominal wage growth is what is above inflation.

    Which means people are getting more money but it is worth less.

    This means economic growth is down, and therefore the overall economy is demonstrably not in good shape.

    *Edit To add from the article:

    Nominal wage growth is the year-over-year growth in wages, not adjusted for inflation.

    So… this doesn’t mean a whole lot then.

    • roscoe@lemmy.dbzer0.com
      31·
      6 months ago

      Nominal is more than inflation so real is above 0.

      Real just has to be above 0 for inflation adjusted wages to be going up.

      I still call bullshit though without knowing where the increases are. All the increases could be in the top 10% with everyone else going down and only the average is above 0.

      Edit: I was wrong, the growth is actually weighted toward the lower end.