Up untill a week ago Nofrills carried these “three packs” of salmon for $10. Now the same pack contains two for the same $10. I thought it felt light when I bought it yesterday.
This comes to about $0.02 increase per gram, and a $1.10 price increase overall. Or a 11% increase in price overall. Meanwhile inflation is at 6-7%?
Workers are not making record wages, maybe CEOs and the upper middle class are but nobody else is. Maybe this is specific to America? Nearly everyone I know across multiple wage brackets I struggling with the cost of living.
I think that’s exactly it. I don’t know for sure, but these numbers may be average wages. And if that’s the case, having the top % or earners earn more while the bottome stays the same would still increase the average And would increase the divide between the top earners and bottom earners
Wage growth in the US has been most pronounced in the lower end of the market. Growth-oriented businesses like tech are a lot more sensitive to interest rate spikes, since their entire model is to borrow a ton of money to pay highly skilled workers a lot to “disrupt” an industry and achieve very rapid growth.
That isn’t necessarily contradictory with still struggling, since inflation exists. If you suddenly make 10% more money but everything costs 10% more as well, you are objectively making record wages, even though your buying power remains the same. Per that report, inflation-adjusted wages have actually grown on the lower end of the job market, so the average low-wage worker’s buying power has actually increased, but general statistics don’t always translate over to real-life experience super cleanly, and of course, a slight improvement from a bad financial situation doesn’t suddenly put you in a good situation.