"Americans are adamant that US economic circumstances are getting worse. They're wrong"
"Americans are adamant that US economic circumstances are getting worse. They're wrong"
Will Stancil with another banger: https://twitter.com/whstancil/status/1730723754223800617
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Real average hourly earnings increased 0.8 percent, seasonally adjusted, from October 2022 to October 2023. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in no change in real average weekly earnings over this period.
Now ask them to adjust for housing costs, which they more or less never do.
They almost never include necessities in these calculations. To them the real measure of economic activity is the price of 65" TVs dropping 10%, not rent going up 100% or housing prices going up 200-300%, or food prices going up 60%.
Hey, you can get a smart TV for 85% the adjusted price of one last year and wages have gone up .8% on average meaning you can open another tv! Why are you complaining?
Idk about you but new TVs is a primary monthly expense for me. I have like 6 in my bathroom alone.
I have 8 in the room I'm in right now.
I bought one of them from a store, the rest are second-hand, 2 are over 20 years old.
IDK why anyone would use a consumer good that people buy on average like once a decade. Might as well include mattress and car prices in there.
Amerikkkan kkkrakkker spotted
You are just jealous of my FREEDOM
🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
this bit works even better with a Malaysian flag
🇲🇾🇲🇾🇲🇾🇲🇾🇲🇾🇲🇾🇲🇾🇲🇾
Do NOT defile my FLAG with a damn MOON!
🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷 🇱🇷
Gotta have Tucker Carlson shouting about communism at you from all angles, natural laxative
they would count house prices going up as sucess
They definitely do! Rent went up? Oh, that means the GDP increased lol
to their mind rent going up is an increase in income not costs
Yeah, because they are housing prices going up as solidifying their position in the owning class
This is what these policy wonk nerds do they mire you down in the little details, "um, SIR, ACTUALLY you got 0.8cents of a raise, adjusted for inflation in QE 3 of 2024, ipso facto things are better than 30 years go
"That's even without jumping into quintiles. If two quintiles got shit on, and two got the bombenomics bonus, you'll have your half of population mad. Not that ft cares
The weasel wording of "rate of hourly earnings" and not "net income per paycheck".
If your hourly wages increase but the number of hours you work is less than it was before, then your income has effectively been cut.
I should have made clear this is bls data, i don't know what ft is citing outside of vibes