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Since Obama became Prez, median wages have gone down by 23% and business profits have soared. We need a growth economy for wages to jump and we haven't had that since around 2006....just a basic supply versus demand function.
Since Obama became Prez, median wages have gone down by 23% and business profits have soared. We need a growth economy for wages to jump and we haven't had that since around 2006....just a basic supply versus demand function.
Can you link the data? Id love to take a look at it
You cant go by the govts inflation statistics because they manipulate them on purpose. They don't include gas or food which is the primary driver of all other costs in the economy, aside from housing. If you look at these costs over the past 10 years they have SKYROCKETED. I remember complaining in college about chicken breasts costing 5 bucks per pack of 3. Now theyre $12. That's more than 5% inflation yearly.
You cant go by the govts inflation statistics because they manipulate them on purpose. They don't include gas or food which is the primary driver of all other costs in the economy, aside from housing. If you look at these costs over the past 10 years they have SKYROCKETED. I remember complaining in college about chicken breasts costing 5 bucks per pack of 3. Now theyre $12. That's more than 5% inflation yearly.
Yeah that's what we see too. High fuel costs affect so much. Real estate and mortgage rates have gone down or at least haven't increased much which lowers the average overall.
I have had the same job in the same place for 33 years without a raise. My std of living is the same.
My life's overhead is lower now that the mortgage is paid off and the kids are on their own.
I saved a lot with investments that have paid off.
As a doc I started with a relatively high income at the time.
Median real income has been declining for the past ten years, yes. Also, really depends on WHERE you live. Say you've been living in San Francisco Bay Area and getting those kinds of raises... then yes, you've had a very large drop in standard of living assuming your cost of housing isn't fixed either via rent control or ownership. Most places haven't seen huge run ups in real estate prices though.
If you stay in the same role for an extended period of time that's on you. Same thing with income. I took on more responsibility, more task, took risk, moved etc some of the roles didn't workout like I thought but it didn't stop me from taking shots
Everybody can't continually be promoted. By definition, only a few people can move up to higher positions. Everybody can't be CEO
Everybody can't continually be promoted. By definition, only a few people can move up to higher positions. Everybody can't be CEO
You're in luck then becuase most people just want a paycheck so there are opportunities to move up. And by definition you mean completely made up to justify not getting promoted?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Not everyone can be promoted, but everyone has that opportunity if they want it and work for it. Once you reach a dead end you have the option of going elsewhere to a higher level job, or where there is more opportunity. Eventually there will be a maximum. I wouldn't have a chance to be CEO (we have that opening right now) and would not want to go to the next level here, but as a mid-level manager with only 6-8 years left to retire I'm content with the annual performance based raise. When I go someone working for me now has the opportunity to take my position, if they are prepared for it by then.
I am already encouraging them to start taking supervisory/management classes and take on leadership of small projects.
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