Despite wage growth, the average American suffers as cost of living rises at a faster pace

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    • #10548
      • Total Posts: 8,843

      Even if the economy is on a roll, many Americans aren’t feeling the benefit.

      Real wages effectively declined in 2018, according to figures from the PayScale Index, a formula from the Seattle-based salary comparison site. PayScale said the median increases, when adjusted for inflation, were only 1.1% since and 1% over the past year. “However, the modest uptick in nominal wages failed to bring real wages out of the red for the year,” it said. In fact, when adjusted for cost of living increases, real wages declined 1.3% since the end of 2017, PayScale found.

      That runs counter to the latest Bureau of Labor Statistics data, which showed an annual increase of 3.2% in average hourly earnings in December, but that’s before accounting for inflation. The PayScale data also stand in contrast to otherwise encouraging news about the labor market. The U.S. unemployment rate remained near a 49-year low of 3.9% in December.


    • #10569
      Ohio Barbarian
      • Total Posts: 24,983

      just took a slightly higher than 1% a year pay cut. Yet our near-worthless union(AFSCME) says that’s a good deal.

      Never let your morals stop you from doing the right thing.--Isaac Asimov

      The United States is also a one-party state but, with typical American extravagance, they have two of them.--Julius Nyerere

    • #10575
      NV Wino
      • Total Posts: 9,528


      “As we act, let us not become the evil that we deplore.” Barbara Lee
      “Politicians and pro athletes: The only people who still get paid when they lose.” William Rivers Pitt

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