Opinion | America's Irrational Macreconomic Freak Out - The New York Times - 0 views
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The same inflationary forces that pushed these prices higher have also pushed wages to be 22 percent higher than on the eve of the pandemic. Official statistics show that the stuff that a typical American buys now costs 20 percent more over the same period. Some prices rose a little more, some a little less, but they all roughly rose in parallel.
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It follows that the typical worker can now afford two percent more stuff. That doesn’t sound like a lot, but it’s a faster rate of improvement than the average rate of real wage growth over the past few decades.
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many folks feel that they’re falling behind, even when a careful analysis of the numbers suggests they’re not.
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