Anger about higher prices appears to outweigh the benefits of a hot labor market in the minds of consumers.
  • cosmicsoup@lemmy.blahaj.zoneEnglish
    0·
    11 months ago

    This article seems to gloss over the fact that wages really haven’t risen with inflation. There may be more job openings than unemployed people, but do those jobs pay a livable wage?

    • 31337@sh.itjust.works
      0·
      11 months ago

      I think wages have kept up with inflation, if I’m reading this chart correctly: https://fred.stlouisfed.org/series/LES1252881600Q

      It’s normalized by CPI, so a flat line would be no wage growth.

      Depends on the the sector, obviously. I’m guessing service sector wages have not kept up with inflation, since it seems like every place is understaffed (they’re not offering enough to attract workers). I also don’t think it accounts for part-time and gig worker wages.

    • girlfreddy@lemmy.ca
      0·
      11 months ago

      Exactly. Just having job in no way guarantees someone also has a home and food to eat … which is some serious Black Mirror shit.

      • Blackout@kbin.social
        0·
        11 months ago

        If you work 40 hours you shouldn’t need a 2nd job to survive. With the wealth America has you shouldn’t have to work more than 30

  • originalucifer@moist.catsweat.com
    0·
    11 months ago

    is ‘the economy’ just cover for ‘people who own stocks’? are they really ignoring the plight of the common man because some rich peoples stocks are a-ok?

    no that can of water did not double in cost to market, but youre going to pay for it like it did.

    feels like inflation has pointed out to the common man what a farce ‘the economy’ is.

    • Poggervania@kbin.social
      0·
      11 months ago

      It’s because the USA’s corporate owners like to obfuscate shit like that. The economy is doing well if all you’re looking at is GDP, stock market, and how profitable companies are.

      However, a quick look at the Consumer Price Index shows how fucked the economy is for the citizens - but you never hear about the US’s really bad CPI score and how inefficient most markets are in the US.

      • theodewere@kbin.social
        0·
        11 months ago

        that’s the way little bitches see it… for some little bitches it’s the border… they cry about the border and ask to have their diapers changed, it’s pretty funny… but the little bitches who cry about high prices and ask Joe to make it go away, those are really funny too… ignorant, childish little bitches…

  • Socsa@sh.itjust.works
    0·
    11 months ago

    Yet they just set a new record for holiday spending?

    Can it be any more obvious that the media is dooming for a Trump win?

  • Facebones@reddthat.com
    0·
    11 months ago

    Anytime you read about the economy booming, it refers EXCLUSIVELY to the Stock Market, no other metric. The stock market is a direct indicator of economic theft. It records how much economic activity/value is stolen from workers and transferred directly to stockholders.

    So yeah, by that metric the US is killing it. By any practical measure, though… Not so much.