I can’t find it now because I’m on phone and not a computer and I can’t really search for it l, but I’m sure that there was a post a while back where someone worked out that if minimum wage had actually kept up with inflation it would be around $80 USD an hour now. Which seems ludicrously high for minimum wage job, but apparently the math works out.
Obviously American employment protection laws are probably the worst in the western world, so probably not a great baseline, but it still demonstrates how badly off people are in general, compared to their parents and grandparents.
I think you’re thinking of the graph that shows how, if wages were tied to worker productivity, the minimum wage would be $80, but if we’re just talking inflation, the minimum wage should be ~$15-18
B-b-but wages have gone up and interest rates have been higher decades ago! /s
I can’t find it now because I’m on phone and not a computer and I can’t really search for it l, but I’m sure that there was a post a while back where someone worked out that if minimum wage had actually kept up with inflation it would be around $80 USD an hour now. Which seems ludicrously high for minimum wage job, but apparently the math works out.
Obviously American employment protection laws are probably the worst in the western world, so probably not a great baseline, but it still demonstrates how badly off people are in general, compared to their parents and grandparents.
I think you’re thinking of the graph that shows how, if wages were tied to worker productivity, the minimum wage would be $80, but if we’re just talking inflation, the minimum wage should be ~$15-18