Wage Raises almost always lag behind inflation because inflation is market-leading, whereas wage earnings are negotiated and usually in response to said inflation rise.
This is exactly why they tell you to get a promotion or find a new job to earn a higher wage to beat inflation. Anyone who stayed at their current position without promotions or without changing jobs for years will never beat inflation.
Yup, I actually used the inflation argument in my salary negotiation.
It didn't work.
Then an executive and 3 other people quit because of low pay.
I'm gonna try it again later ; )
I literally said, "Hey, entry level for this job at another company is $20/hr by the end of the year." Next it's going to be, "Hey, not only is what I said previously still true, Amazon is paying $22 /hr entry level."
I'm not terribly interesting in quitting at the moment because of the amount of upward mobility I have in the company now is far superior to anywhere else and I have good management (which is a fucking blessing on it's own). I'm using that opportunity to basically lateral move into a different part of the industry while working. So, I'll take the hit in pay for now.
I’ve generally found that even a great company environment couldn’t prevent me from switching jobs when inflation rose up. I got a 20% salary increase by just quitting in February of this year, and got another 5.7% salary increase in June again. Yeah, my resume doesn’t look great right now, but my skill set is in enough demand that my tenure is a non-issue.
Not surprising. I always thought it'd be an easy sell for banks to charge someone money to secure their money. "It's safer than keeping it in your mattress; why wouldn't we charge you money for that?"
Exactly, which is the part economists are conveniently forgetting. People will start to wake up and demand more, and economists are hoping they demand too little too late to matter.
Remember the “Fight for 15”? It’s stupid, but the establishment didn’t care about it because they knew it wasn’t high enough to affect their bottom line. It tells anyone that 15 dollars/hr is throwaway money to these guys, and if you want to beat inflation you better be earning at least double that.
Are you going to increase wages to compensate? Otherwise, fuck off with this shit.
He basically just assumes that raises will rise faster than inflation for the next several decades.
Despite literally every shred of evidence that has pointed that the opposite has happened in the past 70 years.
Wage Raises almost always lag behind inflation because inflation is market-leading, whereas wage earnings are negotiated and usually in response to said inflation rise.
This is exactly why they tell you to get a promotion or find a new job to earn a higher wage to beat inflation. Anyone who stayed at their current position without promotions or without changing jobs for years will never beat inflation.
Yup, I actually used the inflation argument in my salary negotiation.
It didn't work.
Then an executive and 3 other people quit because of low pay.
I'm gonna try it again later ; )
I literally said, "Hey, entry level for this job at another company is $20/hr by the end of the year." Next it's going to be, "Hey, not only is what I said previously still true, Amazon is paying $22 /hr entry level."
I'm not terribly interesting in quitting at the moment because of the amount of upward mobility I have in the company now is far superior to anywhere else and I have good management (which is a fucking blessing on it's own). I'm using that opportunity to basically lateral move into a different part of the industry while working. So, I'll take the hit in pay for now.
I’ve generally found that even a great company environment couldn’t prevent me from switching jobs when inflation rose up. I got a 20% salary increase by just quitting in February of this year, and got another 5.7% salary increase in June again. Yeah, my resume doesn’t look great right now, but my skill set is in enough demand that my tenure is a non-issue.
Evidence? In my socialist propaganda?
We'll be lucky if the US maintains its 0% interest rate floor. Lot of countries abandoned that long ago.
Europe has negative interest and more and more banks are passing that on to the people.
Not surprising. I always thought it'd be an easy sell for banks to charge someone money to secure their money. "It's safer than keeping it in your mattress; why wouldn't we charge you money for that?"
Lol.
The big problem is, if wages are actually going to increase you'll get a vicious cycle of runaway inflation.
Companies pass cost of higher wages on to consumers > prices rise > more inflation > demands for even higher wages.
Exactly, which is the part economists are conveniently forgetting. People will start to wake up and demand more, and economists are hoping they demand too little too late to matter.
Remember the “Fight for 15”? It’s stupid, but the establishment didn’t care about it because they knew it wasn’t high enough to affect their bottom line. It tells anyone that 15 dollars/hr is throwaway money to these guys, and if you want to beat inflation you better be earning at least double that.
you know things are fucked when mcdonalds is offering over 20 bux an hour to start