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dirtballmagnet t1_j19m4d7 wrote

Wow, it's almost as if when you start paying people a living wage they suddenly find money to spend.


JackMitcham t1_j19o894 wrote

Which is a problem, according to the Federal Reserve.

This article is supposed to be bad news.


hillsons t1_j1a96k2 wrote

I'm so god damn tired of it always being labeled bad news no matter what. GDP is down, terrible news, recession looming! Wait, GDP is up, oh no, the fed is going to raise rates, horrible!


VegasKL t1_j1b3ira wrote

It's bad news "from the perspective of the economy" .. a healthy economy has a certain amount of unemployment, and growth.

When trying to cool it off to correct it, seeing more growth on top of it can be seen as a negative.

To the average person, it's seems like good news. We're living in very confusing times -- economic growth = bad, low unemployment = bad, massive layoffs in some industries yet still low unemployment = bad.

The problem is, it's not the wallet of the citizens, inflation is being driven by companies arbitrarily raising their prices (or reducing costs, features) because "everyone else is doing it." There's a reason some countries have a Windfall tax, so the government can step in and say "look here f***heads, you're gouging everyone."


hillsons t1_j1bekbn wrote

I wonder what would happen if we stopped letting 30 people own all the wealth.


laconicflow t1_j1at9vy wrote

Well, with the economy there's usually an upside to all news. Rates raised, short sell.


I_ONLY_PLAY_4C_LOAM t1_j1c3z8w wrote

I think what the fed is worried about is rising wages will entrench price increases that are causing inflation, and that the supply side issues we've been having since covid haven't resolved fully. It's not just that they don't like rising wages. The context is that rising wages won't mean much if everything else also rises. The Fed isn't some evil anti labor organization. They exist to prevent the next great depression, and the monetary policy to do that can look unintuitive.


Art-Zuron t1_j1c77vq wrote

Those prices ain't ever coming down. The inflations artificial. It won't behave predictably according to supply and demand.


lvlint67 t1_j1cb3jb wrote

There are still supply side issues. Sourcing things like electronic components and raw materials like silicon and aluminum are still not easy.

I'm not writing off corporate greed, but we are still recovering..


TooManyDraculas t1_j1e0gij wrote

Some of it. There's a ton of price gouging going on. Fiscal policy can't resolve that, legislation and other regulatory action can though.


kracer20 t1_j19r6lh wrote

All I hear about are employers saying they can't find workers. Other than not raising their wages as they should have, where did they go? Older folks have left the workforce, I hardly see HS students working anywhere. My only other guess is that as wages grew, some workers decided they could make it on two jobs, rather than three, or one job rather than two.


uberares t1_j1a3115 wrote

Over a million dead people from covid and four years of anti immigrant rhetoric.


reggiecide t1_j1a32gu wrote

Hundreds of thousands of working-age Americans died of COVID since 2020. Thousands Millions more have long COVID and may or may not be working.


CAllD2B t1_j1awtwa wrote

I work in grassroots canvassing; we shut down over 45 offices because of COVID and have only been able to get maybe 5 up and running because of the way the job market has shifted.


Morat20 t1_j1bgfl6 wrote

Well, it's almost always they didn't raise wages. Generally at all.

I've seen plenty of "20/hr" postings where it turns out they're offering 12 or 13 -- and other places are offering 15 or more.

After that, well, COVID killed off a lot of people and let a lot more disabled.


TooManyDraculas t1_j1e04nx wrote

I still regularly see $30k listings for white collar work requiring college degrees and years of experience. With a living wage sitting in the high $40k range.


samuelgato t1_j19ywp8 wrote

What is this living wage you speak of?

Prices have increased 16%, wages have increased maybe 4-5% tops


nexusjuan t1_j1a11zx wrote

I got a 30 percent raise. went from $12.50 to $18.50 in 3 months. With starting pay raised to $18. I work in a popular Italian chain restaurant as a cook. Base wages across this industry rose significantly.


[deleted] t1_j1a5cfr wrote

I have never been in a better financial position or felt this optimistic about my financial future. I wish that for everyone.


EvangelionGonzalez t1_j1aet0j wrote

Doing pretty well here myself. Did it hurt to invest so much money in my retirement for years? Yes. But now that I have more bills than before, I lowered my investment percentage. Putting more money in early in my career allowed me that flexibility. Feeling very positive about the future. Next step: Small starter home.


SirAwesome3737 t1_j1etlat wrote

Wages overall increased 6.4% for November, but for "job switchers" they got 8.1%


MysteriousRoad5733 t1_j1aubhf wrote

Who started “paying people a living wage” ? Who are the recipients of this living wage ?


Fuckedby2FA t1_j1apt3q wrote

No no no we need to give it all to the 1% they deserve it or something.


langis_on t1_j19u1la wrote

But how will the billionaires make money if we don't give them tax breaks!