Re:Employee shortages: Where have all the workers gone?
by syshum on Saturday July 31, 2021 @08:41PM
(#28022730)
you do understand how inflation works right? If all prices raise then the purchasing power of the person on Min Wage stays the same thus their situation did not actually improve any.
Further Inflation has the common effect of hurting the lower and middle classes the worst and increasing wealth disparity. There is multiple ways this occurs but one thing that is trending of late is that as the wage floor is raising you are not seeing the same levels of raise in other area's of income until you get into the top 10% or higher of wage earners. Today we are seeing inflation outstrip wages in many skilled labor categories.
Further Inflation has the common effect of hurting the lower and middle classes the worst and increasing wealth disparity. There is multiple ways this occurs but one thing that is trending of late is that as the wage floor is raising you are not seeing the same levels of raise in other area's of income until you get into the top 10% or higher of wage earners. Today we are seeing inflation outstrip wages in many skilled labor categories.