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Worker pay isn’t keeping up with inflation

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Re: Worker pay isn’t keeping up with inflation

#831

Post by actually_a_dog »

aeternum wrote: post #821
actually_a_dog wrote: post #121

Earlier quoted context omitted.

So, the economically rational thing for everyone to do is to engage in this gigantic game of musical chairs, if they care about the number at the bottom of their paystub? That's silly, and a great way to throw away a lot of specialized domain knowledge.

There's a lot of value in playing musical chairs. The market is pretty good at allocating human labor. Some companies get left without people in the seats and others, often the more innovative companies end up with more than they had before. A labor market with high liquidity leaves most people better off.

The labor market can go fuck itself if it doesn't serve the people, IMO. People aren't just for creating "value." They have lives. If the economy doesn't work for people, it just plain doesn't work. Not everybody wants to change jobs all the time. Those people don't deserve pay cuts for providing the same "value" they provided a year ago.

Re: Worker pay isn’t keeping up with inflation

#832

Post by simonh »

missedthecue wrote: post #580
simonh wrote: post #77

Earlier quoted context omitted.

Medians don’t tell the whole story. Incomes for high wage earners in the US have increased disproportionately compared to European countries, while wages for middle and low income groups stagnated in comparison. The value of benefits isn’t takin into account. Health care is a huge driver of inequality in the US. Tens of millions of you get minimal health care, and even many on health care plans only qualify for a fra…

I think you're confusing medians and averages. A median figure is not skewed by high earners at the top. Second, the OECD adjusts for differences in government transfers like healthcare and education.

> A median figure is not skewed by high earners at the top.

That’s exactly my point. For “not skewed by” read “reveal the fact that”. Neither averages nor medians tell you much about the shape of the distribution, but the shape does matter.

Also you’re missing my point about education and health care completely. Yes the OECD accounts for their value overall, but that value is very unevenly distributed in the US. Much more so than in Europe. I also made a point about quality as against just spending.

Re: Worker pay isn’t keeping up with inflation

#833

Post by ergocoder »

notreallyserio wrote: post #648
colinmhayes wrote: post #607

Earlier quoted context omitted.

Developers in low cost of living regions demand less money, so they're paid less. Sounds like Google is doing exactly what they said.

I'm not sure that's currently the case, what with the move to long term remote work. Do you have data showing workers demanding less pay after moving to cheaper areas while retaining the same position in the same organization?

It is hard to say how remote work impacts this.

Most companies are still requiring onsite. Even apple (one of the most innovative companies) still wants employees onsite.

Re: Worker pay isn’t keeping up with inflation

#835

Post by cissou »

enimodas wrote: post #260
cissou wrote: post #43

Is it not rather that the inflation of the past 6-12 months has taken everyone by surprise, including employers, and the wages haven’t had time to adapt yet? What we don’t see in the article’s graph is that inflation used to be somewhat consistent but has risen sharply starting in March 2021: https://tradingeconomics.com/united-states/inflation-cpi

Pretty sure that's because it's yearly inflation and March 2021 on that graph means inflation between March 2020 and March 2021, and corona "started" then.

That’s an interesting point re/ yearly but on march 2020 yearly inflation dropped to 0% so I assume at the start of the pandemic many prices were down, not up

Re: Worker pay isn’t keeping up with inflation

#836

Post by the_gipsy »

notreallyserio wrote: post #594
the_gipsy wrote: post #194

Earlier quoted context omitted.

> If someone is unhappy enough to start job hunting What if salary is the only thing they are unhappy about?

I suppose they'd be best off asking for a raise (easy) than applying for jobs and interviewing (a lot more work).

The leverage of a raise negotiation is another job offer (potential or real).

Re: Worker pay isn’t keeping up with inflation

#837

Post by nickpp »

rocgf wrote: post #564
nickpp wrote: post #384

Earlier quoted context omitted.

And my point was just as simple: those developed countries enjoy the benefit of cheap, educated doctors from Eastern Europe. Without them, their health care would be much more expensive.

So, in the end, you're accepting that regulation is not the determining factor then. Not even sure what exactly you think the proportion of foreign-born medical staff is in Europe. As far as I can find, the maximum is ~30% in the UK, while in Germany is 7%. But either way, to think that this is somehow the reason why Americans pay way more than anyone else for basic stuff like insulin and medical bills is ridiculous…

No I am saying regulation just guarantees you pay more. How much more depends how bad that regulation is. In USA, the situation is pretty much FUBAR.

Re: Worker pay isn’t keeping up with inflation

#839

Post by mac01021 »

chinathrow wrote: post #772
mac01021 wrote: post #599

Earlier quoted context omitted.

I suspect the GP is interpreting "Honestly?" as an expression of incredulity at being asked the question - as though the asker did not know their place as an employee. I can see how such an attitude would be offputting, but I do not believe that is the correct interpretation of the HR spokesperson's meaning.

You're right. English is not my first language and I've read the "Honestly?" more as "Seriously?".

It's just an english idiom that doesn't mean much. It's like saying "If you are looking for an honest response, the answer is no."

Re: Worker pay isn’t keeping up with inflation

#840

Post by romwell »

redisman wrote: post #770
pydry wrote: post #525

Earlier quoted context omitted.

I saw this in Myanmar. There were people living in mud huts but they had smartphones. I also had the same thought - it's the one luxury they can actually afford if they save up. I dont really get how people can look at that and think that these people are better off than a middle class 1950s US family. It's insane.

Phones are also not expensive unless you want them to be. You can get a great phone for any use for about $100 used. Streaming, playing Fortnite, productivity tasks. Any 5 year old phone can handle all that. It’s very cost efficient to get free entertainment, communication, portability

$100 might be tough to get, but my Moto G Power was $200, and I don't feel it's limited in any way.

Heck, with the SD card slot I can film terabytes worth of videos and not worry about storage ever, and it lasts 2 days on a single charge.

That said, the extra $400 worth of difference between that and an iPhone 12 won't exactly turn a millionaire into a pauper. If $200 is the cost of necessity, then $400 expense on top of it to feel good for whatever reason is pretty damn low as far as spending goes.

It's less than furniture, less than expensive watches, less than anything close to luxury clothing (or even solid quality winter gear). $400 is a decent bicycle.

I don't get why people care so much about other people buying expensive things that they themselves wouldn't buy.

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