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Poorest US workers hit hardest by slowing wage growth

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Re: Poorest US workers hit hardest by slowing wage growth

#41

Post by keeda »

mensetmanusman wrote: post #29
keeda wrote: post #18

Earlier quoted context omitted.

Such an organization cannot exist. These agencies are always balancing two opposing forces, timeliness and accuracy. Data collection is inherently delayed (e.g. a lot of it is from surveys that businesses complete at their own speed, or from reports that each state/agency submits on their own timeline.) So collection for a given quarter typically completes long after the quarter is over, and then it takes some time t…

They shouldn’t announce until it’s accurate then?

That's where the timeliness versus accuracy trade-off comes in. There is significant value in having an early signal to act on, especially as long as there is awareness of its limitations. And as I mentioned, this data does come with very clearly documented caveats and methodologies so that users can make informed decisions.

Re: Poorest US workers hit hardest by slowing wage growth

#44

Post by agent_turtle »

user9999999999 wrote: post #23

the min wage is long overdue, its should be somewhere near $25/hr this is how you 'tax' billionaires

I got my first job as a grocer in 2010 which paid a minimum wage of $7.25/hr. That was 15 years ago and the minimum wage is still $7.25/hr.

Re: Poorest US workers hit hardest by slowing wage growth

#46

Post by agent_turtle »

bennyHHW wrote: post #37
yalogin wrote: post #24

What slowing wage growth? For the poorest the wages have essentially not increased for a long time right? It hasn’t even kept up with inflation. The recent bill actually makes it much worse.

[flagged]

> Decades of worsening conditions for the commoner is Ron Wyden's idea of a booming economy. Democrats are useful idiots.

I can't anymore, folks. Republicans passed the largest tax cuts for billionaires, increased the deficit by trillions, and kicked millions of people of medicaid. Meanwhile, Trump is out there creating the most regressive tax system via tariffs we've ever seen which affect the poorest the most.

Yet Democrats are the useful idiots. Incredible.

Re: Poorest US workers hit hardest by slowing wage growth

#47

Post by digitaltrees »

EcommerceFlow wrote: post #38

[flagged]

We could have a billion Americans and keep employing them productively. Immigration has been America’s superpower for 150 years. The real problem is monopoly firms that suppress wages of workers and innovation at the same time. The same monopolies that outsourced our manufacturing. All of which started with deregulation and tightening of immigration controls.

So you’re wrong.

Re: Poorest US workers hit hardest by slowing wage growth

#49

Post by silisili »

roywiggins wrote: post #36
yalogin wrote: post #24

What slowing wage growth? For the poorest the wages have essentially not increased for a long time right? It hasn’t even kept up with inflation. The recent bill actually makes it much worse.

As far as I can tell, over the last few years at least, that's mostly not true: wages outpaced inflation, and it outpaced inflation more for lower-income workers than higher. > In stark contrast to prior decades, low-wage workers experienced dramatically fast real wage growth between 2019 and 2023 https://www.epi.org/publication/swa-wages-2023/ ("real wages" are wages adjusted for inflation)

I'm obviously not an expert, but assumed the same thing. I watched a fast food joint near me go from 9/hr to 21/hr in just a few years. Maybe that was just pandemic pricing, I don't know.

But getting >2x salary in such short order is outpacing pretty much everyone else, percentage wise.

Re: Poorest US workers hit hardest by slowing wage growth

#50

Post by monster_truck »

kortilla wrote: post #48
user9999999999 wrote: post #23

the min wage is long overdue, its should be somewhere near $25/hr this is how you 'tax' billionaires

This is how you tax small business owners. The vast majority of businesses are not owned by billionaires

Perhaps if we taxed the billionaires more we could subsidize increased wages for small business owners or even do something actually good like provide universal basic income so that they cannot be so easily exploited for wildly undervalued labor
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