Increasingly clear that macroeconomic indicators don't reflect day to day experiences. We've known for a while that rewards from "growth" are not equitably distributed but it's becoming harder to hide that many are suffering whilst a few are doing very well. Fertile ground for populism.
I don't know about the UK but in the NYC area it's obvious that lower-paid workers are getting paid more. Hence higher restaurant prices and reduced hours throughout the retail sector.
The minimum wage in New Jersey is now over $15 per hour.
It will be a different story wherever you look and affects different people in different ways. I'm less concerned about the person whose restaurant meal has increased in price, and more worried about the people who can no longer afford their rent or heating etc.
US hourly earnings are just up way more than prices, pretty much however u look @ it....accept in the european context ur concerns are real for basically all income groups though...
Surely the question is whether govts can influence such things? I've never been convinced they can despite what they say. If that is true how immoral is it for them to do so?
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It’s a complicated picture though, and I don’t doubt people are feeling very squeezed.
https://www.statista.com/statistics/1002964/average-full-time-annual-earnings-in-the-uk/
https://commonslibrary.parliament.uk/research-briefings/cbp-8456/
The minimum wage in New Jersey is now over $15 per hour.