How the economy is doing has always been a contentious topic, particularly when friends and family with different politics gather for Thanksgiving dinner. And the question has gotten even thornier this year, with consumer sentiment and polling data about the economy becoming historically de-linked from official measures of economic health like GDP. It’s not our job to tell people how they should feel about the economy, but we can at least add some facts as context to common complaints.
It’s impossible to buy a house, gas prices are insane, and the cost of consumer goods are still through the roof. The article tries to point to average wage increases over the last few years, but this categorically ignores the fact that most Americans haven’t seen a wage increase during this time. This suggests that the wage increase isn’t happening around the median of wages, where most hourly Americans find themselves, but rather is occurring at either the floor or ceiling — neither of which has an impact on most Americans. If I had to guess, I would think this is probably happening at the floor, given how many states have been raising minimum wage recently.
Of course, this is great news if you’re earning minimum wage. The issue is, most Americans aren’t.
honestly gas prices are pretty cheap compared to everything else. If it gets in line with everything else its going to really suck.
They’re back down to $2.50 where I live
which before everything doubled in price would be like getting gas for a buck 25