yes, the u.s. national wage index was about $6k in 1970 and about $70k in 2024, which is the last year the social security administration has reported the wage index
This doesn’t seem like a good representation, I think it has capital gains wrapped in.
This source looks like it takes just the wages people are being paid, and it goes from $4.44 an hour in 1979 to $20.03 in 2024.
I remember checking a year or two ago that the median worker earned around $45k, with a bunch of financial sleight-of-hand making up the dofference between this and the per capita GDP.
fair, and the inflation number also includes a bunch of financial sleight-of-hand. i don’t think it includes healthcare, education, and housing, which have all grown significantly faster than the baseline inflation.
yes, the u.s. national wage index was about $6k in 1970 and about $70k in 2024, which is the last year the social security administration has reported the wage index
This doesn’t seem like a good representation, I think it has capital gains wrapped in.
This source looks like it takes just the wages people are being paid, and it goes from $4.44 an hour in 1979 to $20.03 in 2024.
I remember checking a year or two ago that the median worker earned around $45k, with a bunch of financial sleight-of-hand making up the dofference between this and the per capita GDP.
fair, and the inflation number also includes a bunch of financial sleight-of-hand. i don’t think it includes healthcare, education, and housing, which have all grown significantly faster than the baseline inflation.