kristen_d, 2 months ago

@DemDifference Fuck Reagan. #FuckEveryRepublican

thejacenallen, 2 months ago

@DemDifference 40 years later comparisons?

Kierkegaanks, 2 months ago

@DemDifference median salaries?

DemDifference, 2 months ago

@Kierkegaanks

Real (inflation adjusted) median weekly earnings were 18.9% higher in Q4 2023 (latest available data) than in Q4 1983.

Kierkegaanks, 2 months ago

@DemDifference And if inflation is not adjusted because you still need to pay for everything? Eg housing cost has stampeded since 1983. Not Biden’s fault (alone) but the comparison is a bit of woo

DemDifference, 2 months ago

@Kierkegaanks

What's adjusted in the "real earnings" data series are the earnings, to account for inflation.

This enables meaningful comparisons of purchasing power over different time periods.

By contrast, if you just compared the nominal earnings data, unadjusted for inflation, it would show a much, much larger increase than the 18.9% for real earnings.

Kierkegaanks, 2 months ago

@DemDifference which is utter economist nonsense because essential conditions like housing is absolutely unaffordable for tens of millions more today than 41 years ago, which makes the comparison an irrelevant lie. But then again, so is the snivelling republican comparison

DemDifference, 2 months ago

@Kierkegaanks

Between 1984 and 2022, housing costs rose 188% and median household earnings rose 233%.

We won't get 2023 median household earnings from the Census Bureau until September, but when we do, it will be possible to compare 2023 to 1984 on both metrics.