The federal minimum wage hasn’t increased since 2009.
The buying power of the minimum wage today is 27% lower than 2009.
Today’s minimum wage is effectively 40% less than it was in 1968.
Middle-class wages are the same. If the minimum wage falls behind, middle-class wages also fall behind.
The buying power of the minimum wage today is 27% lower than 2009.
Today’s minimum wage is effectively 40% less than it was in 1968.
Middle-class wages are the same. If the minimum wage falls behind, middle-class wages also fall behind.
Comments
Prices have increased 47.11% since 2009
Inflation Rate for 2009 -.36% (deflation) 2.89% for 2024
San Diego highest rate of change 3.78% but 74.38% overall.
Chicago lowest rate 2.23% but 39.16% since 2009.
1/2
And I wonder what caused the increase in transportation starting in 2019. Gas prices were low in 2020 due to the pandemic.
Truck transport rose 6.8% in 2018.
Costs tend to be lagging in fuel/trans for structural reasons. Akin to falling oil prices taking time to hit pump but rising hits immediately.
Take milk. The average is calculated by using location variations and in store pricing.
But what about the person who buys Organic Milk? Soy, Lactose-Free or "other". They're not captured properly in data and have different experience.
*Area variations mean some paid more, some less. local sourced products, population derived demand and transportation costs are some factors.
And I have a friend who took the buyout from AT&T 20+ years ago. She got a job at a college with better benefits and lower stress.
In the 1950s and 1960s, the CEOs of large corporations earned an average of about 20 times the pay of their typical worker. Now they rake in over 300 times the pay of an average worker.
Is the purpose of the federal government to save voters in GOP-controlled states from their own terrible judgment?