>despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.
wildrhythms|2 years ago
>despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.
https://www.pewresearch.org/short-reads/2018/08/07/for-most-...
gottorf|2 years ago
Real wage means purchasing power parity, or it should. These two statements cannot be true, if they are using the same definition of inflation:
- Real wages have risen over the past 50 years
- Today's real average wage has about the same purchasing power it did 40 years ago
The methodology must be different.