Wage growth in the U.S. is skyrocketing

[Anonymous]

I'd rather see this with equal opportunities for everyone working to earn more income, than the federal government depositing monthly unearned cash deposits.

[Anonymous]

Wage growth is up because the Boomers retired in droves during the pandemic and we also have had a ton of drug overdoses and suicides in addition to the Covid deaths.

The boomers were a huge generation. They are why wages were depressed. Simple supply and demand.

[Anonymous]

You realize this is causing inflation right? Wage price spiral are BAD and very, very difficult to combat. Only simps this about wage hikes, the real question is how much are peoples' purchasing power and real income *after* inflation going up. I'll let you in on a secret - they're not.

Inflation is running over 10% if you use the same metrics the govt used to use back in the 70s and 80s, before they manipulated the numbers to keep them artificially low. At the rate of inflation we have now, everyone's paychecks will be worth about 50% less in real terms compared to only a few years ago. Everyone's life's savings is becoming worth less and less, and people on fixed incomes are getting obliterated.

[Anonymous]

This combined with inflation will lead to a recession. Businesses can only absorb so much of the double whammy of rising wages AND rising costs. Rents are up significantly, especially warehouse rents, wages, energy costs, food costs, gasoline, etc. At some point, businesses will have to start laying off employees, as labor is the highest cost for a business, and there is not a whole lot they can do to cut back on food costs if they are running a restaurant or gasoline costs if they are a landscape business, for example. Many indicators/financial analysts say this upward pressure on business say a pretty significant recession is on the horizon.

[Anonymous]

Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

[Anonymous]

Anonymous wrote:Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years. That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus. The govt IS the cause of the inflation. Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years. Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations. Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat. It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years. That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus. The govt IS the cause of the inflation. Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years. Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations. Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat. It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.

DP... Yes they can. Two of the biggest drivers of recent US inflation are a.) oil and gas costs, which has been 90% driven by corporate and speculator interests and b.) cost of used cars, driven in large part by rental companies hanging on to their fleets longer than they used to.

[Anonymous]

related

https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-april-2-2022-174901498.html

Employers have to pay more for labor, because there aren't enough people to fill available jobs.

Maybe we should be increasing immigration?

[Anonymous]

My wages aren’t skyrocketing. 2019 was the high for me, after 3 previous years of steady increases. 2020 was down, and 2021 was really, really down. 2022 isn’t looking any better.

[Anonymous]

Anonymous wrote:related

https://finance.yahoo.com/news/weekly-jobless-claims-week-ended-april-2-2022-174901498.html

Employers have to pay more for labor, because there aren't enough people to fill available jobs.

Maybe we should be increasing immigration?

This is what I said would help on another thread and it brought out the bigots. But honestly, if people had any clue about the generational sizes in the US (and the world) they would understand what is going on. The boomers have largely exited the workplace during the pandemic, which leaves TINY GenX to fill those management roles. There are not enough GenXers to do this hence the competition with salary. Last year, I doubled my pay moving into a management position. Last week I was offered a job for $60k more and there is nothing special about me. The competition for workers is crazy. My company cannot find folks to hire… and we pay excellent wages for American computer engineers. The millennials are behind in the workforce because they entered it during a recession. They’re still catching up. GenZ is largely the offspring of GenX and also a small generation. We won’t have the workforce numbers to match prepandemic workforce until the Millennials’ kids enter the workforce. Immigration is our only way out. With that said, Canada is competing with us for immigrants. Canada doesn’t have the crazy xenophobia right now like the US.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years. That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus. The govt IS the cause of the inflation. Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years. Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations. Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat. It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.

DP... Yes they can. Two of the biggest drivers of recent US inflation are a.) oil and gas costs, which has been 90% driven by corporate and speculator interests and b.) cost of used cars, driven in large part by rental companies hanging on to their fleets longer than they used to.

Gas prices are up because of geopolitical shocks. You cannot simply just stop and start oil rigs. Getting new rigs online can take as long as one year, and costs for oil rigs have gone up due to 30% due to inflation. Rental car companies are holding onto their cars BECAUSE inflation has gone up for buying new cars.

Tell me you've never looked at the PPI numbers without telling me have never looked at PPI numbers (hint: they're even worse than CPI). You have no idea how to run a business and how to maintain margins. Macro level inflation is caused by forces way above a rental car company or an oil company. The fact that you are oblivious to the effects of printing 50% more money, spending trillions in stimulus, and the fed lubricating credit markets is absolutely mindboggling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years. That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus. The govt IS the cause of the inflation. Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years. Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations. Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat. It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.

DP... Yes they can. Two of the biggest drivers of recent US inflation are a.) oil and gas costs, which has been 90% driven by corporate and speculator interests and b.) cost of used cars, driven in large part by rental companies hanging on to their fleets longer than they used to.

Gas prices are up because of geopolitical shocks. You cannot simply just stop and start oil rigs. Getting new rigs online can take as long as one year, and costs for oil rigs have gone up due to 30% due to inflation. Rental car companies are holding onto their cars BECAUSE inflation has gone up for buying new cars.

Tell me you've never looked at the PPI numbers without telling me have never looked at PPI numbers (hint: they're even worse than CPI). You have no idea how to run a business and how to maintain margins. Macro level inflation is caused by forces way above a rental car company or an oil company. The fact that you are oblivious to the effects of printing 50% more money, spending trillions in stimulus, and the fed lubricating credit markets is absolutely mindboggling.

DP. No need to be so insulting. There are multiple factors contributing to inflation. The stimulus, clearly, was one factor.

[Anonymous]

This is just inflation in action. The more inflation, the more there will have to be wage increases at a more frequent pace. Better chart… how much higher are real wages now than two years ago?

[Anonymous]

Anonymous wrote:My wages aren’t skyrocketing. 2019 was the high for me, after 3 previous years of steady increases. 2020 was down, and 2021 was really, really down. 2022 isn’t looking any better.

The best way to get a big raise is to find a new job. If you're unsatisfied with your current compensation, you may want to consider interviewing for a new role.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades.

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years. That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus. The govt IS the cause of the inflation. Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years. Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations. Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat. It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.

DP... Yes they can. Two of the biggest drivers of recent US inflation are a.) oil and gas costs, which has been 90% driven by corporate and speculator interests and b.) cost of used cars, driven in large part by rental companies hanging on to their fleets longer than they used to.

Gas prices are up because of geopolitical shocks. You cannot simply just stop and start oil rigs. Getting new rigs online can take as long as one year, and costs for oil rigs have gone up due to 30% due to inflation. Rental car companies are holding onto their cars BECAUSE inflation has gone up for buying new cars.

Tell me you've never looked at the PPI numbers without telling me have never looked at PPI numbers (hint: they're even worse than CPI). You have no idea how to run a business and how to maintain margins. Macro level inflation is caused by forces way above a rental car company or an oil company. The fact that you are oblivious to the effects of printing 50% more money, spending trillions in stimulus, and the fed lubricating credit markets is absolutely mindboggling.

except when asked about prices the oil execs said they would just increase production.....well gee, wonder why they couldnt do that before being asked.