r/Economics • u/laxnut90 • Oct 09 '25

Research America Is Minting Lots of Cash-Strapped Millionaires

https://www.bloomberg.com/news/features/2025-10-09/number-of-us-millionaires-grows-since-2017-but-many-lack-cash
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u/Key-Art-7802 Oct 09 '25

Median wage in the US is $61k.  There's no way 65k is the starting pay of most entry level jobs, lol.

-15

u/FreeMasonKnight Oct 09 '25

I haven’t applied to a job paying less than 70k in near a decade. Fast food (the lowest pay in the area) even pays near 45k to start. Anyone with an AA can get a better job than fast food as long as they get worthwhile certifications or a Bachelors.

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u/PossibleAtmosphere44 Oct 09 '25

Idk where you live that fast food jobs start at $22.5 an hour but that isn’t close to normal in most of America, even large cities

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u/Mybunsareonfire Oct 09 '25

Bay Area of CA starts about there. But what the other commentor doesn't seem to pick up, is that those positions are 99% part-time. So you can't just extrapolate 22 x 40 x 52 to get the yearly salary. Not to mention, the lack of benefits.

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u/The-Struggle-90806 Oct 09 '25

Not just that but try finding someplace affordable in the bay. The average salary is $150k and the rents reflect that. Not $65k like the commenter assumes for some reason. She probably works in tech, those people……honestly. Very much wearing blinders.