“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
I would LOVE to see a source on this, but I have a feeling I already know where it is coming from.
Would you prefer the Economic Policy Institute, Politico, or CNBC?
I think the wording in your original comment is pretty misguided. Nowhere does it say the poor are “doing better than” the wealthy. They just had the strongest short-term wage growth since covid. This does not equate to prosperity. Perhaps it is you that has the restrictive social circle.
None of this matters when low income people have been getting screwed for 30 years. 3 years of growth means almost nothing when you put it in proper context. It’s just a way for the upper class to gaslight people.
There are people out there still getting paid $9 an hour which wasn’t liveable 15 years ago when that was my wage. If this trend continues, calling it wage slavery won’t be hyperbole anymore.
Plus none of these articles talk about the middle 80% who have not seen their pay keep up with inflation over the last 5 years, or the fact that the price of many goods has exceeded inflation on top of that. Not to mention the housing crisis.
It’s not hard to figure out why people think the economy sucks.
Yes, bottom 10% are doing better and the top 10%. That means the middle is getting hollowed out and the whole thing turns into a very divided society. That’s not a good thing.
It’s not a good thing, but it’s better than the blatant “rich get richer, everyone else gets fucked” economy we’ve had for the past few decades.
And doesn’t it make sense that we improve the situation of the poorest first?
blatant “rich get richer, everyone else gets fucked”
and now you have a rich get richer, almost everyone else gets fucked economy. Yay, progress.
Looking at history, it feels more like an attempt to make sure the poorest don’t fall into the “nothing left to lose” category that can cause so much trouble.
