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Message
re: Powell no longer believes inflation will reduce
Posted on 5/15/24 at 6:42 am to UncleFestersLegs
Posted on 5/15/24 at 6:42 am to UncleFestersLegs
quote:
The economy IS NOT THE SAME AS IT WAS 30-40 YEARS AGO.quote:
why?
Minimum wage has not kept pace with inflation, and many employers perception of what is a fair wage is tied to minimum wage. For example, when I got out of High School minimum wage was $4.25, today it’s $7.25. Yet, we can easily say cost of living has more than doubled, but because minimum wage is so low apparently people think a skilled trade job should start about at the same pay it did when I got out of high school over 30 years ago.
This post was edited on 5/15/24 at 7:00 am
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