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0 pointsYZF27d ago0 comments

Median real wages: https://fred.stlouisfed.org/series/LES1252881600Q

0 comments

Yes, which proves the point, no? In Q1 of 1979 the real median wages were 335. In Q3 of 2014 they were 336. Which means that from 1979 to 2014 workers did not see any increase in their salary. In that same period, GDP per capita (and thus the economic output of the country and thus the economic output of its workers) almost doubled. The country became richer, workers became more efficient, but they did not get any part of the gains.

YZFOP26d ago

No?

The point was > but wages were dropping in real terms throughout that period

> And the people in this article are born in the 1960s and 1970s, in the decades that followed, America was booming

There are economic cycles but the trend is clearly up. Funny enough, the 80's and the 90's which I think many people recall as great times were maybe more flat overall and the last 15 years feel worse. To be honest we also need to look at unemployment and perhaps other metrics. But the story that real wages were dropping is not supported by the data.

isolatedsystem27d ago

Now adjust it for inflation.

nickff27d ago

‘Real’ means inflation-adjusted.

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