this post was submitted on 19 Jun 2024
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But on npr this morning they said wage growth has outpaced inflation
I found a recent article by them that said it was outpacing inflation for a month in the sense that wages were growing in real value, which is an incredibly weak standard.
Practically speaking they should be doubled or more to come close to affordability for many Americans.
Long before wages create affordability, they have to out pace inflation. It's going to take a long period of wages slightly beating inflation for the public to be happy.
Or we could have another recession to make prices drop, but wages would lose ground to inflation when it returns.