Re:The Guy I Almost Was (1998)
by 93po on Monday December 28, 2020 @01:59PM
(#25562045)
If this is true then why do I also see graphs showing that wages have declined in purchasing power since the 70s? Is it possibly that this chart is using "average" rather than "median"? Housing is everyone's largest expensive and I feel like I've seen figures that show housing has a percentage of income is something like 2-3x higher than it was 50 years ago.
[ Parent
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> wages have declined in purchasing power since the 70s
This was true until 2019. Wages dropped in the late 70s and in the 80s, then went up in the 90s, spent the 00s mostly flat, and rose a little in the 10s. It took 50 years (until 2019) for them to go back up to the 1968 high. So "we've made no progress since 1970" economic quotes are mostly true, but "we've made no progress since 199x" economic quotes are mostly false.