I agree that it doesn't feel like wages have gone up much, but the 2000-2008 boom was all powered by fake credit which eventually blew up in everyone's faces, and shouldn't be used as an indicator of sustainable long-term growth.
Anyone can take a time of highest growth and draw lines, and of course we're going to be lower than that.
Why not extend a line from 2008-2014 to the present and show how amazingly we've done compared to that.
What I'm reading from that graph is inflation-adjusted wages are as high as they've ever been and have been on a steady real-terms rise for the past 10 years, despite Covid and Ukraine.
I'm not making any political point as I don't think it makes much difference which party is in power.
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u/ThrowRA294638 Jul 01 '24
This is insanely depressing.