Quote:
Originally Posted by opendoor
I mean, you can't use 2020 numbers for anything really. Low wage workers got fired at disproportionately higher rates than higher wage workers, which drove the median upwards. But that wasn't people getting raises; it was people getting fired.
Pre-pandemic under Trump, wage growth was pretty good at about 1.3% annualized. But still markedly slower than the last few years under Obama where it was about 1.7%. And in the last 2 years after the pandemic job numbers stabilized, Real wage growth has been 1.2% under Biden, yet people aren't happy.
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Well this is just false, if you look at the federal reserve data.
https://fred.stlouisfed.org/series/MEHOINUSA672N