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re: When "Normal" is no longer normal...
Posted on 4/19/24 at 12:53 pm to Flats
Posted on 4/19/24 at 12:53 pm to Flats
How much did you make when you started, what year was that, how many hours per week typically?
Studies show time and time again that younger millennials and zoomers are, in fact, working significantly more hours than previous generations did at the same jobs AND earning significantly less money when adjusting for inflation.
I remember one such thread on this, when a poster who had worked as an engineer in Texas in the 80’s talked about how they “scraped by” on her salary working 50 hours a week. I calculated that when adjusted for inflation, she “struggled” on the equivalent of $130k/year in today’s money, while graduating with zero student debt and had housing costs that, even when adjusted for inflation, were 1/4 the current market in the same location for the same home (talking monthly payment, not house price).
Meanwhile, the person working the same job likely works 20-40% more hours every week while getting paid barely half as much, and paying 4 times the adjusted for inflation housing cost AND likely has student loan debt on top.
Nope, just lazy. Maybe instead of blaming them for recognizing a f$&ked economic and social situation while rejoicing how “I got mine”, we should focus on how we can best correct the situation and rebuild the relationships and community that people used to be able to rely on in hard times. We need better churches and civic organizations, we need better school administrations, less exploitative workplaces, and better economic/regulatory policies from our governments.
Studies show time and time again that younger millennials and zoomers are, in fact, working significantly more hours than previous generations did at the same jobs AND earning significantly less money when adjusting for inflation.
I remember one such thread on this, when a poster who had worked as an engineer in Texas in the 80’s talked about how they “scraped by” on her salary working 50 hours a week. I calculated that when adjusted for inflation, she “struggled” on the equivalent of $130k/year in today’s money, while graduating with zero student debt and had housing costs that, even when adjusted for inflation, were 1/4 the current market in the same location for the same home (talking monthly payment, not house price).
Meanwhile, the person working the same job likely works 20-40% more hours every week while getting paid barely half as much, and paying 4 times the adjusted for inflation housing cost AND likely has student loan debt on top.
Nope, just lazy. Maybe instead of blaming them for recognizing a f$&ked economic and social situation while rejoicing how “I got mine”, we should focus on how we can best correct the situation and rebuild the relationships and community that people used to be able to rely on in hard times. We need better churches and civic organizations, we need better school administrations, less exploitative workplaces, and better economic/regulatory policies from our governments.
This post was edited on 4/19/24 at 12:58 pm
Posted on 4/19/24 at 1:18 pm to kingbob
quote:
while getting paid barely half as much
That's not even close to true for engineering. I graduated in 89 and the middle of the bell curve was looking for $30k as a first job. Depending on which inflation calculator you use that's about $75k today. I think my first mortgage was 7.5%.
I'm not saying that some things aren't more difficult, I have children in their 20s. Economies aren't static and somebody's inevitably going to hit the bad spots when they're starting out, but exaggerating their woes doesn't accomplish anything.
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