"_all_ the wage growth since 1979 happened in just two episodes when the unemployment rate was allowed to stay low for extended periods (the late 1990s and post-2014" - ThreadSky

nbeaudrot.bsky.social • 3 days ago

"_all_ the wage growth since 1979 happened in just two episodes when the unemployment rate was allowed to stay low for extended periods (the late 1990s and post-2014"

Reposted from Economic Policy Institute

Wage growth since 1979 has definitely been suppressed, but EPI has decided to stop describing the entire post-1979 period as one of “wage stagnation.” #EconSky

@elisegould.bsky.social and @joshbivens-econ.bsky.social explain our reasoning:

www.epi.org/blog/wage-gr...

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onaisamanahte.bsky.social•3 days ago

I CAN GUARANTEE YOU that the REPUBLICANS IN RED STATES WILL STILL VEHEMENTLY DENY THEIR CONSTITUENTS the opportunity and RIGHT TO RAISE THE MINIMUM WAGE TO MATCH the state of inflation and the economic hardship they will endure. MANY REPUBLICAN STATES ARE AT $7.25 / $7.50 STILL!

frencharoo.bsky.social•3 days ago

Slave country!

hollygll.bsky.social•3 days ago

If the American workforce starts paying the tariff/tax I would think that there will be clamoring for wage hikes

timplex.bsky.social•3 days ago

Interesting point also is that median household incomes grow after tax increases on the wealthy and shrink after cuts. This is out of date because CBO stopped publishing effective rates, but striking.

timplex.bsky.social•3 days ago

I will admit that the pattern broke under Trump as incomes increased even after his tax cuts. But unable to see longer term effect with Covid coming soon after.

otts3000.bsky.social•3 days ago

And broke people will still argue the minimum wage should not be raised

onaisamanahte.bsky.social•3 days ago

That's because they are told that it will collapse their state economy and that's obviously not true.

fireboss.bsky.social•2 days ago

That time frame fits the time of the Lewis Powell paper and Reagan's trickle down economics. And we still have 77 million citizens that don't get it!

marcashrsn.bsky.social•3 days ago

1981 was the first year of the Reagan administration and he was not labor friendly.

frencharoo.bsky.social•3 days ago

Thank a Republican !

dave-m-5.bsky.social•3 days ago

Well, Trump's tariffs are guaranteed to reverse any remaining gains -- we'll get inflation and high unemployment

hppycmpr69.bsky.social•3 days ago

CEOs give themselves huge pay raises, bonuses and stock options while they don't even give their workers cost of living increases much less a raise. When the cost of living goes up 3% but you only give a 1% increase it is not a raise. The worker is falling farther and farther behind financially.

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