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IsoRhytmic t1_jdyg89r wrote

Everything costs 30% more, buts all good If I get a 15% raise 🙏


elementofpee t1_jdymirj wrote

And the reason why everything costs 30% more? The cost of running a business (labor, goods, transportation, etc.) has increased by that much and more.


Jukkobee t1_jdyw57j wrote

are you saying that the 15% raises are causing everything to cost 30% more? cuz that doesn’t make any sense at all


elementofpee t1_jdywbty wrote

Labor is just one aspect of running a business. For most industries it’s the #1 cost, so yes, an increase in labor cost + other increases mentioned above = 30% increase to your goods and services.


Quotenbanane t1_jdzm26m wrote

Wtf is that logic. Your idea of an economy is that businesses always need to raise the prices by (e+x)% if an employee get's a e% raise? Then how can anyone buy anything in 50+ years?


Rumpthrust t1_jdzld07 wrote

Good boy, keep repeating that without any question. That's a good thinker


Ineludible_Ruin t1_jdxmdd3 wrote

Strange. As a middle wage worker, my wage "growth" has decreased by almost double digits.


wrp1 t1_jdz3trk wrote

These gains are very significant, and were totally unexpected. The share of people making less than $10 an hour, adjusted for inflation, is far smaller than a few years ago.

The data is real, whatever the hive mind of Reddit in these comments thinks.


MisSignal t1_jdwotxq wrote

Awesome! This is good news for me as a middle wage worker. Means I’ll be low wage soon, then my wage will grow.


… right?


Brilliant-Chip-1751 t1_jdywnhm wrote

I'm all for wealth going to people who have to work to survive. Hopefully the trend continues to grow for everyone (fuck the 1%)


Admirable-Volume-263 t1_jdzemzw wrote

And have the standards for government assistance changed? No? So, all that money is useless. Go from making $8/hour to $15 and notice how insignificant the difference in living standards is. How do I know? Because I've been caught in this shit storm of a country for decades.

I made $15/hour 16 years ago. 5 years ago, I cycled through 3 jobs that paid the same. In the last 18 months, I have applied to hundreds of jobs because that income level is a trap and is still prevalent. I've been on SNAP the entire time.

Do you know what happens when you get a slight pay increase at poverty wages? You lose your poverty benefits. In my case, that's going to amount to $500/month for food for 2 people and dental coverage for my daughter. So, instead of the government paying me to eat, I'll have to make enough to not only cover that loss, but hope to make WAY more in order to, I don't know, not have to cancel my credit cards, not be living paycheck to paycheck, maybe travel sometime in my life or even go out for pleasure? Or, here is a crazy, crazy thought: maybe I'll be able to pay a single cent to my student loans, get health insurance (lol, right) , or maybe I'll be able to SAVE FUCKING MONEY FOR MY FUTURE.

This study proves one thing: American workers can influence the market if we make demands. otherwise, who cares? It's not enough. It's nowhere near enough.


Uncle-Cake t1_je0lt7o wrote

Is this a joke? Is this sponsored by Forbes, or WSJ?


Icy_Case4950 t1_jdxdjf5 wrote

They finally are getting paid what they should = better opportunities


Uncle-Cake t1_je0msuz wrote

They're not getting paid what they should. Not even close. Unless the Feds raised the minimum wage to $25 while I was asleep.


Icy_Case4950 t1_je23mcx wrote

No it was sarcasm. Cause better opportunities in light of the pandemic, and an article highlighting lowest paid workers benefitted the most ? Sounds like people were taken advantage of. I didn’t read the article but I assumed the article says because of legislation passed during the pandemic - the lowest paid workers actually made more and my point was oh? they got what they were supposed to get all along ???


Uncle-Cake t1_je2oq1x wrote

My mistake, didn't realize it was sarcastic. You never know on Reddit.


TurkeythePoultryKing t1_jdxxqfh wrote

Yes, soon fry cooks will make as much at plumbers…

And we will all be moderately poor.


rigobueno t1_jdy7399 wrote

It’s called wage compression, don’t be mad at the fry cook, be mad at the plumber’s employer


elementofpee t1_jdym3od wrote

If the plumber’s employer has to pay 20% more to retain the plumber the added cost would just passed onto the customers. Enjoy 20% more for your needs - now extrapolate that to all your other goods and services you need to survive. Good luck playing this dumb game.


Haffrung t1_jdyz1tg wrote

It‘s remarkable how many people think paying higher wages won’t mean higher prices. You can see them cheer on higher wages for restaurant workers, and in the next breath rant about the price of eating at a restaurant. Can people really go through 13-17 years of education without learning how markets work?


Typical-Length-4217 t1_je1h9n8 wrote

This same irony can be applied to open borders policies. So many of the folks who promote open border policies also promote low cost housing, totally disregarding the notion of global demand. It’s like they cannot comprehend that uncontrolled population growth could also cause an uncontrolled increase in the price of housing.


Rumpthrust t1_jdzloze wrote

20% of everything you say is 1% away from 90% of all the bullshit you think is true because I can make up 15% of stats that sound good. Verisimilitude is your best friend