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Inflation outpaces wage growth for over 40% of Americans (www.forbes.com)
submitted 1 year ago by to c/economics@lemmy.world
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Wage growth for a large swath of Americans is being outpaced by the rate of inflation, according to data from Indeed, which reported people with low- and middle-paying jobs are likely feeling the most pressure.

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[–] 21 points 1 year ago (7 children)

Yeah, "rising wages" are mostly due to the wage offered to new employees. Existing employees don't get shit and inflation is still eating away at their buying power.

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  • [–] 8 points 1 year ago

    The yogurt I like has doubled in price over the last year. My salary went up 4%. I'm looking for a new job pretty hard right now. Like the place I'm at, has a pension, been there 9 years, but fuck you pay me or I'm out. The opportunity cost of staying at a place who's wages don't keep up with inflation is too damn high.

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  • [–] 3 points 1 year ago (3 children)

    Job-hopping has long been known to be the best way to increase earnings for most people - particularly those in corporate jobs.

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  • [–] 1 point 1 year ago (1 child)

    Sure, that doesn't make it a practical solution for everyone though

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  • [–] 1 point 1 year ago*

    Never claimed it was. There are innumerable self-destructive stupidities that the bulk of the human race regularly prefers to engage in because it gives them an advantage in the short term, which is all most of them bother thinking about. That being the case, we're all forced to play the game their way: constantly look for opportunities to take advantage of for oneself, and fuck their demands of loyalty and self-sacrifice for the good of the company - they wouldn't do the same for you.

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  • [–] 2 points 1 year ago (1 child)

    This article is about recent changes, under Biden wage growth was doing a lot better. But that's stagnated under Trump (to my understanding) and is being hurt by rising costs due to tariffs.

    Effectively tarrifs and bad trade policy by Republicans is causing inflation that can't be offset by wages (because the costs are caused by taxes making everything more expensive).

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  • [–] 2 points 1 year ago*

    It has been shown time and again that administrations under Republican are worse for the economy than when under Democrats. I saw something recently that went back at least four decades showing this pattern, but haven't the time or ability right now to search it up. I'm sure it can be found easily enough.

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