this post was submitted on 02 Jul 2024
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[–] [email protected] 1 points 1 month ago* (last edited 1 month ago) (3 children)

looks at graph

Real wages are still below inflation. Nominal wage growth is what is above inflation.

Which means people are getting more money but it is worth less.

This means economic growth is down, and therefore the overall economy is demonstrably not in good shape.

*Edit To add from the article:

Nominal wage growth is the year-over-year growth in wages, not adjusted for inflation.

So... this doesn't mean a whole lot then.

[–] [email protected] 3 points 1 month ago* (last edited 1 month ago)

Nominal is more than inflation so real is above 0.

Real just has to be above 0 for inflation adjusted wages to be going up.

I still call bullshit though without knowing where the increases are. All the increases could be in the top 10% with everyone else going down and only the average is above 0.

Edit: I was wrong, the growth is actually weighted toward the lower end.

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