Why would anyone focus solely on real wages and not factor in how the prices of checks list fucking everything has skyrocketed?
Like, if wages go up 5% but prices went up 50%, anyone bragging about wages being up probably doesn’t understand what they’re talking about. Or they know it’s bullshit, and just lying by omission
Real wages factor in inflation. Nominal wages is just the dollar amount you get
What the article states is that factoring for inflation, wages have gone up
https://www.indeed.com/career-advice/career-development/nominal-wage-vs-real-wage
I would like to additionally point out that people often misconstrue “Inflation” with “CPI”. Whereas inflation is the devaluation of the dollar, CPI is the cost increases consumers actually face. Inflation is not horrendous at the moment, but the price gouging companies attribute to inflation is much greater than the actual inflation amount. This makes the cost of goods way higher and makes comparing against inflation effectively moot.
https://www.brookings.edu/articles/has-pay-kept-up-with-inflation/
We find that all four measures of typical and aggregate pay, adjusted by PCE, have grown since 2019. When deflating using CPI, we find smaller increases across three of the four measures and a decline in one measure. In other words, nominal pay by these measures has done relatively well in keeping up with overall costs of living since 2019, measured by PCE. Nominal pay has done somewhat less well in keeping up with increases in the costs of goods and services that are much more salient to consumers, measured by CPI. This pattern is consistent across time periods, with pay deflated by CPI experiencing smaller increases—or instead decreases—relative to pay deflated using PCE.
Perhaps because whether there is inflation or not it could be a good thing that graduates are seeing real wage gains.
If they weren’t, I trust you’d complain about that too?
If they weren’t, I trust you’d complain about that too?
…
Yes…
If things were even worse, I wouldn’t stop complaining.
Not sure why you needed to ask that, but happy to clarify.
I also go to sleep every night, but if I was especially tired, I’d still go to bed.