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this post was submitted on 26 Dec 2023
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Not great, but better than the 10+ years before that. Wage growth has mostly been stagnant since the 1970's but there's occasional periods where it's done better. Like now, and I think about 10 years ago when a long period of crappy wage growth was broken following the GFC. It's one of the few genuinely good things about the economy recently, people are finally earning more and if that keeps up for a few more years a whole lot of people are going to see their lives improved.
Lol your whole argument that it's better now is based on your own argument it has been stagant for a decade and your pinnacle argument that fixes the mess is... 1 year of lukewarm wage growth? How the fuck does that fix anything?
Lol "few more years" .. you have nice jokes.
I think you are misunderstanding me or projecting things onto me that aren't there. I'm pointing at one of the few good things in the economy and saying if it continues then we will begin to see real change for the better. Also, it's not been lukewarm wage growth, it's been relatively strong and especially so for lower income workers. Labor is finally winning some and it's bizarre that people are getting mad at me for pointing it out. It's not a joke, it's more money in people's pockets finally and I hope it continues.
You know what it looks like to me? It looks like you made a claim before double checking the evidence, and when you got called out, instead of just admitting you were wrong you double and then triple down with some of the dumbest attempts at arguments I've ever seen.
They aren't wrong though, wage growth has been historically strong the last two years.
Then you are jumping to conclusions and making assumptions that have misled you. Up until the 1970s wage generally grew with worker productivity and then everything changed and it's been much more stagnant with most of the productivity gains turning into shareholder profits instead of rising wages. About 10 or so years ago we started more frequently having periods where wage growth outpaced inflation after a long period of very flat wages. More recently the whole covid and post-covid situation has transformed the labor market and led to wage growth. In 2023 we saw strong wage growth, particularly for lower income workers. If the current trend continues with falling inflation and rising wages then the coming years will lead to meaningful improvements in the lives of workers. What is dumb about this argument? More money in the hands of workers, especially lower income workers, is a good thing.