Current Events > real hourly earnings for f/t workers declining for the past three quarters

(+) Yeah! (+)

https://twitter.com/econjared/status/1019240911082065921

However, the average length of the work week has increased slightly more than average hourly earnings have fallen, meaning that overall yearly earnings are essentially flat

https://www.bls.gov/opub/ted/2018/real-average-hourly-earnings-unchanged-from-june-2017-to-june-2018.htm
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Real average hourly earnings combined with a 0.3-percent increase in the average workweek resulted in a 0.2-percent increase in real average weekly earnings over this period.

hours worked up 0.3
earnings only up 0.2

not a huge discrepancy, unless you consider the fact that this has been happening at least for a decade and arguably more like for 4 decades or so now
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tag
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Yeah... wages should attempt to keep up with inflation... but they haven't been for awhile. Productivity has continued to climb and so have corporate earnings, but the laborer/employee continues to get overworked.
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Good! It'll force people to start going for careers instead of jobs like these we'll be phasing out in a few years!

*quickly slashes public education funds and start privatizing education even more*
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CPI increased by 2.9% over the same time period so inflation is shafting people.

But of course the elites love inflation since it makes their crazy borrowing and spending a little more sustainable by making debt cheaper.

But in any case, these numbers might be meaningless because they take the CPI into account when computing the average. So depending on what sector you work in and what city you live in, you might very well have seen wage increases in the last year. Gotta take these numbers with a grain of salt.
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this is why we need bernie sanders.
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FLUFFYGERM posted...

CPI increased by 2.9% over the same time period so inflation is shafting people.

But of course the elites love inflation since it makes their crazy borrowing and spending a little more sustainable by making debt cheaper.

But in any case, these numbers might be meaningless because they take the CPI into account when computing the average. So depending on what sector you work in and what city you live in, you might very well have seen wage increases in the last year. Gotta take these numbers with a grain of salt.

yeah when it says 'real' that's what they mean (accounts for inflation of consumer goods)

there are probably other issues with these numbers besides local variations, which there definitely are, but overall its still not great

edit: to be clear, I am thinking about these in the context of the most recent corporate tax cut - if there were significant wage increases due to that, we would expect these numbers to look different imo
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Balrog0 posted...

FLUFFYGERM posted...

CPI increased by 2.9% over the same time period so inflation is shafting people.

But of course the elites love inflation since it makes their crazy borrowing and spending a little more sustainable by making debt cheaper.

But in any case, these numbers might be meaningless because they take the CPI into account when computing the average. So depending on what sector you work in and what city you live in, you might very well have seen wage increases in the last year. Gotta take these numbers with a grain of salt.

yeah when it says 'real' that's what they mean (accounts for inflation of consumer goods)

there are probably other issues with these numbers besides local variations, which there definitely are, but overall its still not great

edit: to be clear, I am thinking about these in the context of the most recent corporate tax cut - if there were significant wage increases due to that, we would expect these numbers to look different imo

He's optimistic which isn't bad but he's also heavily biased IMO.

He had a topic a week or two back from "The Atlantic" about how the economy was stronger than ever AND workers were benefiting from more pay.

We went around in it for a while but he was pretty adamant that it was a good indicator that the nation as a whole was on an upward trend for workers.

Edit: it's still on that site if you're interested in checking it out.
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Trumps America
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Balrog0 posted...

FLUFFYGERM posted...

CPI increased by 2.9% over the same time period so inflation is shafting people.

But of course the elites love inflation since it makes their crazy borrowing and spending a little more sustainable by making debt cheaper.

But in any case, these numbers might be meaningless because they take the CPI into account when computing the average. So depending on what sector you work in and what city you live in, you might very well have seen wage increases in the last year. Gotta take these numbers with a grain of salt.

yeah when it says 'real' that's what they mean (accounts for inflation of consumer goods)

there are probably other issues with these numbers besides local variations, which there definitely are, but overall its still not great

edit: to be clear, I am thinking about these in the context of the most recent corporate tax cut - if there were significant wage increases due to that, we would expect these numbers to look different imo

That is assuming that the tax cuts are going to take effect immediately. When in reality companies are afraid to roll out large infrastructure investments/expansion when Democrats are already talking about repealing the tax cuts in just a few years.

The reality is that we are already seeing the labor market become more and more competitive, which should drive up wages in the long run if we can keep the employment rate high.

We have been seeing blue wage workers benefit from this:

https://www.nytimes.com/2018/01/05/business/economy/jobs-report.html

Not necessarily always in wage increases, but in things that do impact earning power - employers paying for their lunches, doing raffles for valuable electronics, increasing wages, etc. Getting a paid-for lunch every day certainly adds up as a substantial benefit over the years.

I'd like for these things to become even more common.
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https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.
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FLUFFYGERM posted...

https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.

I was referring to this one :

https://www.theatlantic.com/business/archive/2018/07/hello-full-employment/564527/?single_page=true

I'll check out that new one though. Thanks for the link.
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Zeeak4444 posted...

FLUFFYGERM posted...

https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.

I was referring to this one :

https://www.theatlantic.com/business/archive/2018/07/hello-full-employment/564527/?single_page=true

I'll check out that new one though. Thanks for the link.

I actually wasn't posting that for you. I was posting it for Balrog. I don't care what you think because the last time (and other times in the past) you've clearly argued in bad faith.
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FLUFFYGERM posted...

Zeeak4444 posted...

FLUFFYGERM posted...

https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.

I was referring to this one :

https://www.theatlantic.com/business/archive/2018/07/hello-full-employment/564527/?single_page=true

I'll check out that new one though. Thanks for the link.

I actually wasn't posting that for you. I was posting it for Balrog. I don't care what you think because the last time (and other times in the past) you've clearly argued in bad faith.

Lol I'd love to see a single example of this occurring but whatever. Like I said, the topic title is "The Atlantic: The economy stronger than ever, workers benefit from more pay" for anyone who wants to check that site.

I guess if arguing in bad faith means disagreeing that the cost of living in Iowa decreasing is a good indicator that the rest of the nation will follow suit then I argued in bad faith.
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Zeeak4444 posted...

FLUFFYGERM posted...

Zeeak4444 posted...

FLUFFYGERM posted...

https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.

I was referring to this one :

https://www.theatlantic.com/business/archive/2018/07/hello-full-employment/564527/?single_page=true

I'll check out that new one though. Thanks for the link.

I actually wasn't posting that for you. I was posting it for Balrog. I don't care what you think because the last time (and other times in the past) you've clearly argued in bad faith.

Lol I'd love to see a single example of this occurring but whatever. Like I said, the topic title is "The Atlantic: The economy stronger than ever, workers benefit from more pay" for anyone who wants to check that site.

I guess if arguing in bad faith means disagreeing that the cost of living in Iowa decreasing is a good indicator that the rest of the nation will follow suit then I argued in bad faith.

The headline of that Atlantic article a bit higher up is literally: "Say Hello to Full Employment
Want to know where the economy is headed? Look at Des Moines."
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FLUFFYGERM posted...

Zeeak4444 posted...

FLUFFYGERM posted...

Zeeak4444 posted...

FLUFFYGERM posted...

https://www.theatlantic.com/education/archive/2018/05/why-walmart-is-paying-for-its-employees-to-go-to-college/561584/

The move to help its employees go to college looks good for a company that has been pilloried over the years for its low wages, lack of room for career growth, and stingy benefits. That cocktail has made it hard for the mega-chain one-stop shop to retain its workers. But it has tried to change in recent months, boosting its base-pay by $2 to $11 per hour and expanding its family benefitsmaternity leave, in particular, which went from six to 10 weeks of paid leave. Offering tuition assistance to employees is another step toward making the company more worker-friendly.

Robert Kelchen, assistant professor for higher education at Seton Hall University, put it like this: What this shows iswhile its good PR for Walmartits getting more difficult for companies to keep employees with the economy improving and theyre looking for ways to both keep talented employees and build up goodwill among the public.

I was referring to this one :

https://www.theatlantic.com/business/archive/2018/07/hello-full-employment/564527/?single_page=true

I'll check out that new one though. Thanks for the link.

I actually wasn't posting that for you. I was posting it for Balrog. I don't care what you think because the last time (and other times in the past) you've clearly argued in bad faith.

Lol I'd love to see a single example of this occurring but whatever. Like I said, the topic title is "The Atlantic: The economy stronger than ever, workers benefit from more pay" for anyone who wants to check that site.

I guess if arguing in bad faith means disagreeing that the cost of living in Iowa decreasing is a good indicator that the rest of the nation will follow suit then I argued in bad faith.

The headline of that Atlantic article a bit higher up is literally: "Say Hello to Full Employment
Want to know where the economy is headed? Look at Des Moines."

Do you even read your own articles, or are you just arguing in bad faith?

From your own article:

"Indeed, across the economy, companies have shown a remarkable unwillingness to boost wages, with growth barely keeping pace with inflation even as the unemployment rate has dropped to 4 percent.

Low wages continue to be an extraordinary problem preventing workers from connecting with a good job and keeping potential employees on the sidelines in Iowa and across the country. Even though were such a low unemployment state, we are also low-wage state, Buck of the United Way said. People think that when you have a state or a community that has low unemployment, that everyone's doing great. That is not the case. We still have about 34 percent of central Iowans who are not making enough to be financially self-sufficient."

That's only a small portion of the parts that outright disagree with what you said in the original topic. You're choosing some small aspect, in this case a statistic, and interpreting it in a way that supports your optimistic bias. Looking at the picture as a whole shows something far different though.
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I'll leave it up to anyone who is following the topic to just read the article for themselves and come up with their own conclusion. I'm not going to go through another repeat of the last time we had this conversation just because you want to cherrypick.
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https://finance.yahoo.com/news/americans-get-big-pay-bump-not-2022-analyst-says-135622639.html

@FLUFFYGERM
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Balrog0 posted...

https://finance.yahoo.com/news/americans-get-big-pay-bump-not-2022-analyst-says-135622639.html

@FLUFFYGERM

indeed
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