Why Americans Aren’t Paid Enough
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- Опубликовано: 18 июл 2022
- When adjusted for inflation, wages have remained virtually unchanged over the last 50 years, with workers today earning just 12 cents more than they did in 1972. And with inflation at its highest since 1971, Americans are feeling the pain of slow wage growth. Two-thirds of American workers said that inflation has outpaced any salary gains made in the past year. But some economists argue that the concept is merely a myth politicians use to promote their careers. So, how real is wage stagnation in America today and what does it mean for American workers? Watch the video to find out.
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Why Americans Aren’t Paid Enough
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
How can I reach this person?
‘’Colleen Rose Mccaffery’ maintains an online presence. Just make a simple search for her name online.
I checked Colleen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
Imagine being broke and these experts say “well you’re not really broke…”
😂😂😂
You have access to credit! Indentured servant...
@@VenturiLife true but credit means nothing if you don’t have enough money to use it right. Using it w/o funds would only hurt yourself even more
To them is all in our heads 😂😂😂
Nailed it!!
Because it immediately affects their level of living, people are impacted by inflation far more swiftly than they are by a stock or real estate market disaster. It is hardly surprising that market sentiment is as gloomy as it is right now. We are in desperate need of your help if we are to survive in this economy.
I feel like I could really need more assistance because navigating the market is so frightening to me. I've already sold off the majority of my assets, so I could use some guidance on where to put my money.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
Well just like i have been told they could just find a new higher paying job because that the answer to everything.
Bc our parents & theirs didnt plan/fight well. They installed spy tech cages after that and then let the schools abuse their children etc.
They were too busy working 55 to 65 hours.
Instead of taking a step back; rebelling. Etc..
Now corporations run us like slaves or else.
In capitalist regimes, the rich remain rich because a willing middle class submits to their ideals. The rich own the credit card companies that the poor borrow from. The rich own the banks that pay out fractions of a percent in yield while making enormous profits via capital markets activities. The rich are also friends and lobbyists of the lawmakers that determine the fate of the majority in this country. The American dream wasn't designed to make you rich; it's a narrative spun by a coterie comprised of the nation's elite. It's a strategic and intricate device crafted to keep you where you are. It's a donkey and carrot model built to serve the system. While you're too busy chasing financial freedom through hard work and dedication, the American dream is adding more weight to your saddlebags
The US economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
who is your advisor please, if you don't mind me asking?
Amber Dawn Brummit is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
I think this is a pretty good way to essentially say that corporate greed is why wages are stagnant. Productivity/profits skyrocketed with tech and companies realized they didn’t have to pay more. Then they realized there were stragies to keep you at the low pay. I think the younger generation is def realizing this and the pandemic just helped.
corporations say they can't afford to pay more or to give benefits like healthcare, retirement, paid holidays, paid sick leave, paid vacation, they need to make 2x the profits they made last year even if that was literally $2 billion.
Not really. Business owners are not much differ than us. They have to have source of income too to cover all these costs. You can definitely tell is it really because of the economy or because of your ahole boss.
economic fundamentals, higher wages are never the answer. There are countless examples throughout history. People complaining about wages should look at the bigger economic and geopolitical picture.
@@TC-kn9kk ok those people complaining about their wages should look at the bigger economic and geopolitical picture, and after they have looked at those two things, how does that help their situation?
@@RossMalagarie There are people in other countries that walk miles for an education or for a job or even a decent meal. And they are grateful and happy about it. Americans complain because they can't get through the fast food drive through quick enough for their happy american dream meal. I've work two jobs, spent less, never complained about it...
The fact that we have a "gig economy" & people have to work 3 jobs just to rent with roommates...says it all.
There are definitely places you can go where you don’t have to work 3 jobs to rent with roommates. I live near one of the most affordable cities in the U.S., and it also recently reached a top 20 city by population. I’m pretty sure people are able to survive on 1 job here, even though our minimum wage is still around $7.25.
Just don’t go somewhere like NYC or California, find somewhere that’s reasonable to live. Big cities will naturally become more expensive to live in over time, as the big jobs bring high-income earners, and gradually push out low and middle class citizens further outside of downtown areas.
@@reuben8328 u know in some countries it is almost unheard of to work 2 jobs
#stolenMoney
There was a time in this country where a family of 4 that had a mom, dad and two kids. Dad was a vacuum cleaner salesman, worked Monday-Friday. Mom stayed home and took care of the kids. Dads pay was enough to support the whole family, had some money spend and a little more to put away and save. Dad stayed with the vacuum cleaner company for 30 years and then retired. What the hell happened? Why can’t it still be like that?
Because it's like this say that you were a vacuum cleaner salesman with a wife and two kids and your pay went up then let's say instead of owning a house you rented an apartment like most folks today and it went from 1,200 to 2,200 because legally an apartment landlord can raise rent every 30 days or 30 day notice and if you don't pay you have to leave because your lease ends and now you're homeless or have to live with Mom and Dad because your pay only went up $100 not a thousand so now you can't afford rent because you were earning a thousand something a month not even close to 2K. And the only reason you're rent went up is because the landlord was greedy and saw on news that poor people like you had a pay increase.
Because of corporate greed. Because they decided shareholders and CEO were more deserving of money. Because politicians have fought against policies that benefit the working class. Because when they say "competitive pay", they mean your salary will be competing with your bills/expenses (and losing). There's so many reasons and we'll never get back to those days.
Workers need mandatory paid vacations a living wage and work less hours
Corporate greed. My dad said in the 80s the assemblers at his job where retiring as millionaires then the corporations changed that real quick
Corporate greed reigns Supreme in America.
I still don't understand the concept of not giving your good employees raises. YOUR EMPLOYEES ARE THE REASON WHY YOUR BUSINESS CONTINUES TO BE SUCCESSFUL. TAKE CARE OF THEM
YOU HAVE A VALID POINT! ✔️ But in 2022, may US employers feel low skill or hourly wage employees are expendible, perishable 🗑. That workers are lining up to jump in their slot! 😏
@@DavidLLambertmobile They say that, yet most businesses take months to replace the employee that left. 😂
@@DavidLLambertmobile They've always felt that way. They don't care about the turnover rate or how long it takes to replace/train employees. That would require them to acknowledge fault or to revamp many components within their system(s).
You can't understand ? Do you live in a liberal state ? Who do you think pays for all the handouts ?
Do you think Joe Biden or Bill Clinton are going to ?
They are busy becoming multi$millionaires through selling out the country .
Its people who dont understand the democrats love the most !
Ever notice people who are on top of Sh*t don't vote for democrats unless they directly benefit from the welfare state with government jobs , etc ?
You probably believe the taxes on your stub are everything...WRONG !
It is criminal to force somebody trying desperately to survive to pay tens of $ thousands in various income taxes ! They are taking money people need to live !!
Then I listen to a clown like Joe Biden complain about a retirement savings crisis its like nails on a chaulk board!
Setting up illegals in luxury hotels for free is salt in an open wound !
Inflation is a HUGE contributing factor to this corporate greed and I will explain why: if the inflation rate is 10%, and your employer gives you a 5% pay increase, you really received a 5% pay CUT. Inflation makes it much easier for employers to give you a pay cut disguised as a pay increase. Whereas without inflation, employers are much less likely to dare give employees a blatant pay cut.
Any inflation indicator that ignores the fact in the 60s/70s that a middle class worker could support a family on one income owning a house in decent neighborhood vs. today where two middle class workers stretch to make ends meet and a house is a distant dream that says things are holding or improving is not based on reality.
the reason why 1 job can support a family in the 80's and save their money is because there's no extra expenses at that time not like today.
@@johnWick-lu3ev If people are struggling to make ends meet, they do not have extra expenses. And no, people in the 80s had quite a bunch of extra expenses as well.
@@SolomonSunder extra expenses like internet bills and gadget like phones.
@@johnWick-lu3ev Neither of which do anything to help out with the skyrocketing cost of essential things like housing, healthcare, and higher education, which you DO have to pay for. Your claim totally misses the point.
@@johnWick-lu3ev cable and a landline would like a word.
My wife just got a 2% raise..when inflation is 9%. Their company productivity went up by 15% this year. She lol'ed with a 2 weeks notice. :)
Yeah. The real inflation is between 15-20%.
Think about what the increase in housing means for us. . .
Notice this BS propaganda piece tried it's hardest not to mention housing?
I did.
What is her job?
Good for her! F#ck them greedy b#stards
@@user-bh2vo5rg3v shut up spam bot
It’s ridiculous, the sad part is a lot of Americans support corporate greed
People support corporate greed because they have been taught to believe in the "trickle down" economic theory which doesn't work.
@@lynnjudd9036 💯
Corporate greed in America has not only been condoned, but encouraged. It's like a religion for those who have no soul
Yeah, they praise toxic capitalism.
Don't forget cronyism and illegal over taxation.
You may not have noticed inflation in years past, But 8%+ inflation over the past year should've taught you that the cost of living increases every year (home prices, rent, groceries, plane tickets, home repairs, etc.) Only way to beat inflation is by investing your money
The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse is near.
People are working and there is little or nothing to show for it. everybody is basically working to sort out one bill or the other. no savings.
@@lawerencemiller9720 Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@checkforme234 How can i get started when it comes to investing and passive income?
@@stephaniestella213 My advisor is “Ingrid Cecilia Raad” You can easily look her up, she has years of financial market experience.
I think it was really glossed over how the workload for workers increased far more than their wages. It puts a major toll on our health over many years
Saying production increased does not mean that workers have just had to do more, the main reason why production has increased is due to advancements in technology making jobs easier to do
I know these people are lying through their teeth. Productivity has increased by 70%, that scott person is full of hot air.
Exactly what I was thinking!! 😡
American’s are not paid enough because cost of living outpace’s income. Secondly, the American labor force is competing against low wage jobs in other Countries.
Really? I heard that, due to innovations in technology, people work less hours compared to a long time ago. This was found when I was researching the benefits of automation and how it’s not bad for jobs to be taken over by robots. Maybe that was a lie :/
The American dream. “You have to be asleep to believe it” -George Carlin
Wow!
My nightmares are better then this life
😶🌫️
I never believed in the American dream
@@societychaos3433 I'm afraid to go to sleep and then I wake up. ⏰
I was a manager at McDonald's in the late 90s and my pay was enough to cover my mortgage, car payment, insurance, phone Etc. Now me and my wife work and just barely make enough to get by
But how much has your job changed in that time? Probably very little hence they feel there's no need to pay you more. They will only pay more when push comes to shove. You have to prove to them you're worth more tomorrow than yesterday. You also have to ask yourself if you were them would you pay you more?
@@mlong9475 If the work he was doing then was worth enough to pay for all of those things, then it should make sense that if he was doing the same work he should be able to afford the same. Seeing as he can't, that means employers aren't keeping the wages at pace with the cost of living. Overtime it technically means they are paying him less and less as the value of the dollar goes down, despite him performing the exact same work. It doesn't make sense to have to have to do more and more just to be able to afford the same things you used to.
@@mlong9475 you're just repeating fascist propaganda . Each year the ruling oligarchs keep taking a little more so there's less for the majority . Now no-one can afford a college degree . Noone can afford to buy a home and a growing number can't even pay rent .
The average worker doesn't care about theories as to why the wage issue exists, they just want their pay to keep up with inflation so they don't fall behind.
Then your house should be paid for. If you used it for an ATM, I have no sympathy.
Why Americans aren't paid enough?.... corporate greed.
Bottom Line is the cost of living needs to go down, or wages need to actually be adjusted for all of the money factors in people's lives.
Yes! Rent is crazy! I live in the south and I lived in a 1 bedroom apartment that was $850/month six years ago. Now that same apartment is $1650 a month without utilities! 😳
Honestly at this rate the cost of living is only going to rise around all these conflicts with war etc it’s going to multiply consumption. The wages definitely need to be looked at and tweaked they already said the middle class will no longer be the middle class in a couple more years studies are assuming at the rate we are heading.
@@nashambenyisrael7689 There are additional items/services that are now expected/required that weren't included in ongoing consumer price indexes. The guy at 10:30-11:20 is wrong. Is he cherry picking to fit a certain narrative?
@@bcase5328 honestly it seems like this entire video was cherry picked for any of the economists saying that there has not been a stagnation of wages compared to expected and/or required costs for living
Yeah here in Florida rent is crazy out of control. Honestly minimum wage should be up to $30 an hour and prices should not be allowed to raise up anymore
I make 65k at my day job and still picked up a second job. Life’s just too expensive now in the last two years
I make $100/month. I'll be dead extremely soon. But I don't really care. It doesn't matter. Humans aren't important.
You need to cut the outgoing money. Even $1 out.
Less than 100k is poverty wages in America
Depends on your lifestyle
I doubled my salary over the last 16 years at one company. Most would think that was excellent progress over a career. Funny thing is that the cost of living has changed so much in that same time frame that I was making 4k less in spendable income my last year than I was my first year.
100% true...Everything has gone up in my life, except my wages.
That moment when you realize your all alone in a huge world that failed you. Don't worry buddy, once you realize that it only gets better from this point. Focus on self reliance and avoid mainstream anything, the system failed, actually it never really worked.
In capitalist regimes, the rich remain rich because a willing middle class submits to their ideals. The rich own the credit card companies that the poor borrow from. The rich own the banks that pay out fractions of a percent in yield while making enormous profits via capital markets activities. The rich are also friends and lobbyists of the lawmakers that determine the fate of the majority in this country. The American dream wasn't designed to make you rich; it's a narrative spun by a coterie comprised of the nation's elite. It's a strategic and intricate device crafted to keep you where you are. It's a donkey and carrot model built to serve the system. While you're too busy chasing financial freedom through hard work and dedication, the American dream is adding more weight to your saddlebags
@@petebusch9069 are you a libertarian? You do realize that the system of capitalism, that requires too much on self reliance has failed us all over the world
@@themysteriouswanderer185 Oh please, capitalism did not fail, our government failed by allowing all these monopolies and now your solution is to give government even more control. Socialism is slavery pure and simple.
@@petebusch9069 He's not all alone. There are millions just like him.
"If you want to go fast go alone. If you want to go together."
this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
Me too. I thought about investing in the financial market, I heard that people make millions if you know the tricks of the trade, but I lack good knowledge and a strategy to outperform the market and generate good yields. I have $160,000 but it's hard to bite the bullet and do it.
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Jennifer Aaron Marcontell", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@@PhilipMurray251 out of curiosity i looked Jennifer up on the web and she seem really proficient, thanks for sharing
At least you have something
Americans: Yay, I got a raise!"
Landlord: WE got a raise.
😫
underated comment my man 🙃
Landlords who haven't gotten paid in 2 years?
@@ThisDique Yeah man, I think you're under the wrong post if you're looking for sympathy regarding that problem. It is unfortunate and despite this particular situation being a bizarre one, landlord's still run a business and that is the risk you take when you become a boss.
@@traceford4904 And the risk you take as a renter, is that the rent might go up.
I live in a town where a family owned company started a factory back in the 70's, now they own the bowling alley, residential housing, golf course, local farm suppliers, warehouses and the list goes on. When other factories closed in town the wages for everyone fell. I worked for them for awhile and was only making $9 an hour as a WELDER. I made $17,500 a year while others in the same profession were making $40,000 a year. While I was there they increased health insurance premiums, stopped profit sharing, stopped company retirement contributions, and started mandatory overtime. I would rather be homeless than work for them again. They constantly have a now hiring sign out front. More ways than one for a business to die. One company should not be able to own an entire town.
Sounds like the movie Roadhouse lol...
sounds like my town
I get that they own the town, and the factory. Once you have that in place, you should pay your workers to keep them happy, as they would be happy to support you....sad, really
What covid did was pysh more workers to drop lower paid jobs or move depriving badly paid employers of easier to retain labour
Capitalism.
Worked at a company that had an accountant quit, was told they weren't replacing her. Three months later a manager was promoted and his position was just combined with another manager so that manager's workload doubled. All the while the company has corporate perks like getaways to fancy resorts every quarter for upper management, some of who get to those destinations using one of four company planes. It's about time for a worker revolution.
That could only happen if the workers were organized. And that is no longer the case as the typical american has been so dumbed down and now believe Unions are a bad thing. Kind of like Wildebeest deciding its best not to herd together. The lions would be devastated..😂😂😂
I worked at a call center and when I applied it said "are you or have you ever been in a union" they dont want someone to stand up and unionize..
There wasn't any.
way past time
Way past a workers revolution.
The main goal for businesses is securing cheaper and cheaper labor. This drive has resulted in phenomenal profits. One example is the Auto industry closing U.S. plants and moving production to foreign countries.
Right and now the average worker can not afford to buy the vehicle. Its only a matter of time before China is able to import their vehicles to the US and as long as they are cheaper people will buy them just like people can’t afford not to shop at Walmart and the demand for overpriced American vehicles will die out further reducing the need for auto manufacturing employees along with AI and automation.
Also whilst giving them employment rights from the dark ages!!
Any less than 25 days / 5 weeks paid holiday leave is slave labour!
No paid sick pay, no free medical or prescriptions, for under 18s or over 65s, or if you are pregnant or unemployed! No available healthcare for everyone, it’s all tied to jobs!!
Also no paid maternity leave, should be at least a year fully paid, and also no paid paternity leave!
Don’t get me started on having to pay to have a baby, call an ambulance or even have to pay for prescriptions way above the cost of them!
Then removing minimum wage for servers etc!! Making them live off tips?!? They should have a minimum wage accordingly to age!!
That’s just the highlights!! Or lowpoints!
Ah but China will implant chips to spy on American Governments
@@_Rockill_this American attitude is really very disconcerting. My family in New Zealand are business owners and they spend 0 time figuring out how to shortchange their workers.
In the USA the bosses actually bring these ideas to meetings. Even when employees have kids.
The boss keeps raising prices but hasn’t given out raises and has used the PPP loan to buy a $50,000 3D printer That has sat on a shelf for the last 3 months. When that recent article said that 75% of the PPP loans didn’t make it to the employees, it was absolutely correct.
Did you keep your job?
Sounds like my boss. Wait, who's your boss? Maybe your boss and my boss are the same assho... boss.
ruclips.net/user/shortsF3WhVjcAylg?feature=share
Those monies likely went into stock buybacks.
@@billiii711 No I'll just borrow the 3D printer a lil bit some times around midnight and return it when I finished teaching my gold fish how to break dance
The guys arguing that there isn't wage stagnation conveniently forget about inflation of the us dollar, alongside the cost of goods with inflation. The average car price in 1980 was $7k. In 2022? $47k. 670% increase in price, but only a 30% increase in wages. Am I getting the math wrong here?
Good thing that trickle down economics. LOL!
I like how they failed to discuss housing/rents. They can't pay the workers more because the executives won't be able to pay themselves $20M bonuses...
Boomers pretend they didnt benefit from subsidies that gave them economic advantages, like affordable housing, education, health & childcare. (New Deal, FHA, SSA, GI Bill...)
Yes
@@Sleepy_Alligator lol. Awesome sarcasm.
I worked at a call center and when I applied it said "are you or have you ever been in a work union" im guessing if i put yes they would of not hired me... People need to start going on strike.. People these days are scared to make a union... You got to fight for your right... To.. Get paidddd rightt
Dude Todays unions are weak... I know nothing but... maybe the mobsters actually helped.
fantastic video Everybody wants to be financially independent and live a better life. With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realised early on that achieving financial freedom requires hard work.
My belief is that making a wise investment is a fantastic way to save money for the future as well as a way to generate passive income. Those who make poor mistakes early in life regret them later in life. But, if done alone, investing may be challenging and risky. For this reason, I suggest consulting experts for advice (financial advisors). The difficulty lies in effectively employing it, not just watching videos and reading investing books.
Sincerely, I'm genuinely moved by what you said. I have a seizable amount of money that I am willing to invest if given the appropriate knowledge and I am highly interested in investing. My greatest concern is losing money on a bad investment. I'm open to hearing your advice on how to make sensible investments as a result.
@@jamesvigor6409 As an OAP with extensive experience, I firmly think that having the appropriate information is essential to the success of any investment. Regardless of what others may say, do whatever you set your mind to. Warren Buffer frequently advises, "Be fearful when others are greedy, and greedy when others are fearful." The secret to succeeding even while others fail is undoubtedly this. Working with financial advisor Julie Anne Hoover, I earned $100,000. So far, working with her has been a promising experience.
Wages are not increasing because PROFIT is king, not the people.
Capitalism!!
wages have increased a lot for those who learned a skill in engineering, finance, healthcare, consturction/electrical/plumbing- those who dont have specialized skills have stagnated because their labor surplus isn't all that much--they're lucky to have a job at all
@@christopherhatch5562 no it hasn’t it’s stayed the same or gotten worse everything in the middle class has been stagnant. Literally rewatch the first 30 seconds of the video
@@christopherhatch5562 oh of course, those people deserve to be homeless in poverty right? they should be indebted to their employers right?
@@christopherhatch5562 perhaps they should go full metal...
if people were paid enough money...the rich and banks wouldn't be able to loan it to them at 14% interest
Great point
What semi-intelligent person is borrowing money at 14%?!
Hahaha
True. Also dumbing people down preventing them from getting a higher education/ skills does the same.
@@R_Tower delivery apps, car sellsmen, internet providers, streaming services, financial institutions and insurance companies. They don't borrow money per ser but you end up paying money or get sued just like any other loan.
If u want 30$ an hr what do you expect people with higher education n experience would want $100 an hr ? Lol good luck w that
Here at Amazon we got a “cost of living raise” for 20 cents. A whole 5 bucks a week. Yippie 😑
lol good lord
During covid I worked at subway for $7.25 an hour, and they only gave me a 5 cent raise 😭💀💀
@@thatotherchannel7945 I’d be less insulted if I just didn’t get one compared to 5 cents. Like how gracious of them to toss me an extra buck a check
@@jansen4282 I know 😭😭 especially since it’s a million dollar business 💀💀💀
@@thatotherchannel7945 my job will congratulate us on record profits and then cut labor and hours I get you 😆 😢
The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse is near.
Collapse is generous
1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them.
Reckoning for participation trophies is incoming
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire. Personally I hired ‘’ Eileen Ruth Sparks ’’ a financial advisor who sets asset allocation that fits my tolerance and risk capacity, investment horizon, present and future goals.
@@kimyoung8414 Please, your coach you mentioned, how do i get in touch with her?
@@erichkraetz2622 just look her name up online to get in touch with her, her details are provided online
We are not in a recession. Words mean things.
"Why aren't Americans paid enough?"
*sees companies post record breaking profits and revenue*
*also sees a lack of laws that protect workers and does nothing about making companies adjust wages for inflation*
*also sees skyrocketing rent costs with landlords justifying increasing their rates because it's what the market says and 'supply and demand' despite the cost of maintaining the apartments not actually increasing by that amount rent increased meaning they did it just because they could*
Slavery is alive and well...tooooo many people not enough decent jobs..and lots and lots of ROBOTS
many of said companies make their money on a global scale exploiting workers in other countries, workers working harder at lower wages with a lower standard of living. is that sustainable?
most of the american part of shareholders in said companies are pension funds, both public and private. who will suffer if these companies cannot keep up their profits?
also sees top marginal income tax rate fall from 91% in 1963 to below 70% in 1981 to 37% today and CEO to avg. worker pay ratio balloon to 351x from 21x in 1965
Inflation is the governments responsibility not your employer. Is your employer fed chairman ? Don’t think so
@@todoldtrafford your right, it's not their job to control inflation but that's not what I said. If businesses can't pay their employees a living wage that changes with inflation then not only do they not deserve to stay in business because it means they couldn't successfully adjust to the new market place but it will cause problems for them from an employee performance point of view. This has been seen for a long time. People who can't get paid enough at their jobs have to pick up a second job which will affect performance at the first.
Honestly, I am exhausted now. All this economy stuff drained the life and energy out of my living soul. I have no energy to go earn more money. I don’t have the brain power or capacity to even go back to school just for the debt to earn more money? REALLY?? GTFOH. which will still put me back in the hole. I don’t have the energy for any of this anymore. I am tired now. American dream = American nightmare for me😢Maybe I’m being ungrateful? IDK.
Capitalism is brutal to the labor class.
It's time to change the labor laws reduce the amount of hours being worked all workers get paid a living wage and have mandatory paid vacations
That's why I'm opening a leather shop in Arizona
That is why Americans are going off the grid near smaller towns and creating self sufficiency energy and food and housing needs! 1 time cost!
They “increased” our wages… but yet we still can’t afford to live beyond paycheck to paycheck…
The main issue is you cant afford a 1 bedroom apartment in any major city in America if you make less than $60K. Even then you gotta have side hussles or a second job to have spending money
You get what you vote for
In capitalist regimes, the rich remain rich because a willing middle class submits to their ideals. The rich own the credit card companies that the poor borrow from. The rich own the banks that pay out fractions of a percent in yield while making enormous profits via capital markets activities. The rich are also friends and lobbyists of the lawmakers that determine the fate of the majority in this country. The American dream wasn't designed to make you rich; it's a narrative spun by a coterie comprised of the nation's elite. It's a strategic and intricate device crafted to keep you where you are. It's a donkey and carrot model built to serve the system. While you're too busy chasing financial freedom through hard work and dedication, the American dream is adding more weight to your saddlebags
Spot on. The media likes to say Americans are living paycheck to paycheck. Hell that's best case scenario. There are a whole lot of people working for less money each month than a one bedroom apartment costs. Paycheck to paycheck implies that wages cover expenses but you would need 60k to do that and like you said, even then would need a side hustle to have spending cash. Wild times!
In a consumer based economy the longer you hollow out the buying power of your consumers the more inevitable an economic collapse becomes.
Good maybe will get Our laws back
@@AMPProf and rights.
we a due fro a bad collapse i mean you cant keep the working poor at poverty level and expect the economy to be good forever.
I was offered a job at Auto Zone back in May delivering auto parts with a company van. Their starting wage for me was $12.50 per hour. Highly unacceptable with their main hub in my area being in Toledo Ohio with deliveries as far as 2 hours from Toledo. I declined the offer because of how low the wage.
Society is ridiculous now. Rich people are landlords who rent their properties for obscene prices and watch their assets appreciate 30% each year and the average person is more broke every year. The inequality is getting so out of hand.
Its called feudalism.. and society has been like that through most of human history. It has only been in first world countries past 5 generations that didn't live under those conditions. Now we are going back in- warp speed!
Let’s get together and change that…x when will people realize this.
Unfortunately we're regressing to the norm of society
What landlords and feudal lords have always been throughout centuries is now todays billionaire and trillion dollar company owning everything.
that's not true though, average person is getting richer, it's just you that is falling behind everybody. Rich people don't set the prices, the customers do. I can put my apartment for sale for 1 billion dollars ,nobody is going to buy it. So I don't set the price, the buyer sets the price
Most landlords aren't rich
The reason why wages are stagnant is because of stock-based executive compensation. The less they pay you, the lower the labor costs which improves the company's bottom line. The better the quarterly earnings, the better the stock performs.....and more likely that bonuses are triggered.
A$awwaaaa
It’s called financialization. Years ago companies would make profits, increase wages and pay taxes. Now they use profits to buy their own stocks. This has the effect of increasing their share price thus making their performance looking better and rewarding senior executives who are increasingly rewarded with stocks. Buying stock means they pay less tax as they are reporting lower profits. And it means they can say there is less money for pay rises. Modern capitalism sucks.
And that’s why you own stocks. Unfortunately depending on a 8-5 job will not be enough to retire.
Exactly well said 💯 % agree
@@057omar Stock market is the biggest ponzi scheme. Insider trading runs everything.
Be good at what you do, companies are greedy and unless you know your worth don't settle ,I've never received a raise because my skills were acknowledged and rewarded only when I threatened to move on to somewhere else did I get bumped up and compensated (hard work usually only gets you more hard work ) I've been in the trades 40 yrs and this is how it works unfortunately.
It's the same in private security, contract places; 🚔. I earn a decent wage, $20.00-hr armed BUT I only work approximately 12hr per week, paid bi weekly. I'm 51 & have done various security sites since the 1990s. Security firms want profits & often refuse to offer merit increases, pay scales, raises. $$$. Some employers; 5-10% will give bonus $ out. 🎄🎁💰 ... If you want serious money you need to be a PI or start a security firm. Get personal clients.
Amen brother, master auto tech 45 years, aging out and now wages are going up, to late to save the industry though
Its not that wages arent high enough, its that the cost of living is too high.
I live in one of maybe 6 states that still use the federal minimum wage of $7.25/hr. My mom bought her first house at the age of 28 in 1989 for $60,000. In 2000 she bought her 2nd and current home for $110,000. She paid off ALL of her student loans/credit cards and car for less than $28,000. She has NEVER made more than $19/hr.
I am now 32 and living back at home since the pandemic because my student loans are at $108,000 and my credit cards and car total over $20,000. I also have medical debts that are about $17,000 after losing health care coverage when Obamacare changed into Trumpcare and my income was “too high” to qualify for the same subsidy. Homes in our area now cost $380k and into the millions. I make $20/hr, just $1 more an hour than my mom, but she NEVER had to spend as much as I did. And she wonders why I don’t have kids yet 😂 it’s insane….
Is this the Twilight Zone???
Edit: I was born in 1990, graduated high school and went to college in 2008 during the recession. Both of my parents lost their jobs (but were still able to pay THEIR bills), however I had to work 2 jobs and go to college full time and ultimately did not graduate from college and after maxing out my student loans I cannot even afford to go back. Student loan repayments start back in August, mine are $980/mo minimum. Pray for me, y’all 😂
$108K education and you make $19. an hour?
Liberal Arts? Not economics and finance? You mom never taught you how to SAVE?
Who started you on debt? It's a drug. Free money you didn't earn. Know what a loan shark is? A bank. Did you graduate?
FUN FACT: RED STATES are STILL predominantly THOSE states with a $7.25 minimum wage! The "poorly educated" not worth as much?
Alabama, Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, New Hampshire, North Carolina, North Dakota, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Wisconsin, Wyoming
AND THE FEDS!
www.minimum-wage.org/wage-by-state
I think you will find that student costs (including the college fees) and the average cost of a comparable house in your state (within a reasonable commuting distance to the most prosperous cities) is ALOT more as a share of income that your mum faced. I presume she was renting before the first house buy. Was her share of income vs rent the same as you would face now based on the minimum wage.
@@stephendoherty8291 NC seems to be trying to catch up with other places in terms of cost of living. Before she bought her first house in 1989 it maybe only cost her $300/mo or less to rent an apartment. By 2008 when I was 18 and old enough to rent, you could still find a 1 bedroom apartment in NC for $500/mo or less but now in 2022 a 1 bedroom apartment is about $1300/mo. However the pay rates are not increasing due to cost of living, they only increased because during the pandemic companies could not convince people to come to a job for only $11-$16 an hour any more. So they increased base pay between $16-$20 an hour to incentivize people not to leave NC and find work elsewhere. Majority of NC jobs or industrial and then there are more specialized industries such as healthcare, tech and financial services. There’s a huge divide between the wealthy and middle/lower class here.
No its not "maybe 6 states" its 20 states
dude just drop out and live your best life
nothing is waiting for you on the other side of paying off all that debt
The game is rigged!!! Always has been...
Then how do you know it’s rigged when it has always been that way?
Yup we are slaves
The rise of housing costs within the last three years alone is proof of that.
@@jesuslover5968 more slaves arriving daily to help keep wages low
The truth is, the game was rigged from this start
If so many people will lose their jobs, including highly educated people, due to automation, how does one get ahead and future-proof their skills?
Skilled trades
Eat the rich
Crime
Degrees in the STEM Science, Engineering, Technology, and Mathematics fields are future-proof and affective against automation
@DJ the problem is even stem grads are getting laid off. Twitter just fired a bunch of people.
"The rich get richer and the poor get poorer" -Percy Bysshe Shelley.
They're not taking into account that pensions have also been mostly been taken away. Overall benefits have been pinched down more and more as well. Retirement is looking non existent to dismal for the middle to lower class like me. I've saved for retirement since 20 and it's unnerving to look at my statements. Fingers crossed it all works out for everyone.
@@WinningThisOne not everyone knew that bitcoin was going to be this big back then. Plus Bitcoin doesn’t take social security taxes every paycheck. The government should be less wasteful of its hard working citizens money. They sending billions to other countries and people grow poorer and poorer over here
Thank you. My mother is in this situation.
She's been working at the same factory for 15 years. And trying to save every penny for retirement.
She says it hasn't been easy.
Buy a van or RV for retirement.
Our government has capitalistic and socialistic parts of democracy. Capitalism makes for American dreams with its freedoms. Our government is to stay number 1 world power with dollar as world reserve currency. Taxpayers along for the ride.
@@WinningThisOne you shouldn't have to gamble your finances to make sure your future is stable. Stupid take.
Oh and for people doing the math, this years inflation alone has eaten 80% of the wages gains since 2016.
I think Housing and Basic Necessities are the most important things to consider.
In terms of what the issue is.
@@emuriddle9364 commie talk
@@edwinamendelssohn5129 Such shallowness.
@@drumlessons833 yes, democrats saying they care about the working class then enacting policies that keep them poor is shallow.
@@emuriddle9364 Inflation makes those things more expensive. Go figure.
American workers are paid enough. The problem is rents are high, food is costly, automobiles are made with garbage parts. (We don't fix anything anymore. just replace shoddy expensive parts). Taxes are high, tolls and turnpikes are high. Have to pay to park etc.
Corporate greed that is exactly why wages have not increased
If you are an employee of any sector, you are being exploited, self employment is the only way to actually hope to build any fortune
Yes sir
You're absolutely correct
It’s not only how much are paid but where our tax dollars go. They go to feed the military industrial complex, subsidizing rich people not paying taxes and not on things that directly benefit us make us wealthier and healthier like affordable health care for all, paid family leave, guaranteed time off. So it’s low pay, expensive and crap health insurance, barely any time off.
The bigger the government, the bigger the corporations thanks to subsidies and regulations concentrating the market. Our taxes are unfortunately mostly spent on keeping the bloated pension liabilities afloat in certain states.
@@Misaka-gt5yj Yes exactly! We need to cut taxes across so there competition can begin to flourish. Obviously we should stop spending if we ever want to cut that deficit and the farse of should start of the pention system is a good place to start.
Our tax dollars go out of the country to buy oil and for world membership "fees". We already have our own oil & don't need to spend billions of tas dollars to buy it. And we already pay Biden or "officials" to meet up with world leaders and discuss business. That's their JOB! They have an expense account for food, lodging, travel, & security, and Biden has a paid military at his disposal! I'm sure other countries do the same for their "leaders" & President. So why are we paying "world membership fees" when it's their job to meet, talk & negociate? It's $450 million a year to the World Health organization alone! How many other millions for Paris Accord, NATO, & the other organizations a year, each? We need to quit paying for this stuff and keep our money home in OUR economy!
yet you keep voting for big government.
Actually 51% of our taxes pays for the Luxury and vacation trips for the rich such as the politicians, we are literally slaves and they're living off of us
Where people are earning 27 dolar per hour? Those numbers are not exist in real life.
Jobs will pay your bills business will make you rich but investment makes and you keep you wealthy the future is inevitable, I pray everyone here becomes successful
@Hart Thim You're right, it's obvious a lot of people remain poor due to ignorance
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings, what do you think I should be buying?
Starting early is the best way to getting ahead of build wealth, investing remains the priority
I'm new to this Bitcoin trading, how do I get started with the help of a professional?
Any specific guide?
With the rising cost of real estate most people will never be able to afford a home anymore which is sad to think about.
but it's good for the economy. Keep ya workin for that dream or keep ya workin for that rent, either way...keep at it
For sure. At least Freddie mac has just announced though that beginning July 10 on-time rent payments will count towards qualifying for a mortgage for first time home buyers🤞🏼🤞🏼While that won’t help too much since of course the prices are crazy right now, hopefully it’ll still lead us in a better direction so that everyone can get to own one day.
People haven't been able to afford homes for years. Last time I heard about anyone my age (young adult) even being able to buy a home was before 2008.
@@justinlassiter7671 Is it good for the economy? Have you like, looked outside? I kind of doubt that knowledge, the more I work the less I feel I'm making. My generation may never know the American Dream.
@XXtheJUMPoffXX Those aren't actually $50k. It's much more because that $50k doesn't include septic, wiring, roofing, etc. Also who knows how much the county will assess that Boxable for property tax.
In all of my 30+ year work history, I've had only a few companies bother too give any wage increase. The only way I've regularly gotten an increase is changing title or company.
Same here. Never bettered inflation. I had one executive flat out tell me that they don't give raises, period.
Last time I switched companies they lied about how much I would be paid then acted like I owed them something so I went back to the company I worked for before because they offered more than last time it's just a big game to them
This is so true only way you get a raise is if you switch companies every 2-3 years
my last company i worked for for 19 years kept the wages at 10 an hour only gave increases for medical.
The reason is like @Payton Ciolli said. The problem is that people need to stand up and do something about it. All the extra money just gets stacked up in the bank by the companies, the rich stockholders and CEOs and independently wealthy, and we never see anything, but yet we are the ones who make that money FOR THEM. Greed has gotten out of control and it's "normal". Everyone needs to speak their mind and try and make a change.
It's supposed to 'trickle down.' "They're trickling something, but it ain't money!" ~~ Jeff Foxworthy
Workers should never stay loyal to an employer. You're disposable and they don't care about you!
this is exactly why the workforce is shrinking and millions of americans do not feel its worth working any longer
Where do they get an income from then?
@@Maestroxxx1 They either go on their own by setting up a LLC or they go unemployed and a lot collect SSA.
Why work and struggle to pay your bills, when you can struggle without the added stress of working, and still get no where?
@@christybultsma6558 you get it.
@@elir.torres8642 shut up and go to work. It's life deal with it. Get a better education. If you're not gonna do it there is someone overseas that it going to. You're just making the economy worse and running away from the problem.
Try median wages instead, and you will know how much the top1% are truly skewing things up
Glad someone else caught this. Means are meaningless.
I would also be interested in knowing the modal income
@@mariahsmom9457 if data is normally distributed means are a good summary statistic, but income is notoriously skewed to the right so yes, in the case of income, means are meaningless.
They did say managerial positions were excluded, but it did still look high. Maybe they assumed 40 hour workweeks to get that number. I've seen that trick played, every commission-based job will lie to you!
Corporate greed
God forbid a business wants to maximize profit
@@royharper2003 you can make a profit a pay your workers a livable wage, the CEO doesn't need his 5th vacation home
@@md-er2wz you obviously have no clue about how economics work
10:39 Since when is 5$ real hourly increase over FIFTY YEARS (1 dollar per decade) considered a pretty nice gain lol? What a joke
Wow that Cato Inst. guy really likes to gaslight us - real inflation is actually higher than CPI. What a sockpuppet.
cato institute is literally a libertarian think tank they only think about the freeee market
Really depressing times we lived in.
The highest standard of living in human history. Yes real depressing. People just never have enough.
Agree.
Exactly
@@bigpicturethinking5620 get back in the cage wagie!
I saved 40k a year returning to my home and native land. Progressive taxes public Health Care and great public schools. Try it out USA. Best of luck. And fire McKinsey. ❣️🇨🇦.
Even doctors, who have always looked down on unions, are trying to unionize now
Corporate greed is why. The CEO’S and people on top want all of the money.
I love the chart that shows wages have gone up since 1970, for the 1% and the .1% their wages have gone up 400% and middle class pay has gone up less than 30% in 50 years. Us middle class have gained 12 cents in hour pay over the last 50 years (considering inflation) so we just need to stop complaining and pull ourselves up by our bootstraps and work harder to make the super rich ever more super richer 😂😂🤣🤣👌👌
Ross Malagarie; Mansions and yachts cost a lot.
@@altond511 tru dat 🤣👌
Yes..because Investments grow not liabilities
@@Lili-ey1nd 🤣👌
We need 15 dollar minimum wage
Providing a living wage is America's greatest problem
True, I've said many times we have to get back to where work pays.
Well that and affordable housing.
Letting American companies move production offshore to avoid paying proper wages is the problem often being given taxpayer money to do it.The Employers have scwred the average American out of a fair wage.
@@antielfimationleague231 " you will own nothing and you will be happy " - the government
@@olympic-ass-eater we know Claus Schwab approves.
it's also a population problem people,
back in the 80s, 90s
if you worked at McDonald's you weren't constantly working, cleaning, doing this,
doing that, you had a little bit of downtime to flirt with your coworkers and such.
nowadays there are so many people these low-paying mediocre jobs that you keep commenting on are hard as hell.
also another very significant issue is the social media state in this country.
everybody wants to project a happy perfect life where we are all so free and fun having that it is a taboo to even work anymore .
god forbid you work at a low paying job you will be shunned and laughed at...
social media is something that nobody wants to talk about anymore but is a very serious problem...
To me, it feels that housing costs and the education cost to obtain a higher paying job is really what's crushing later generations. Are current wages compensating students for taking on the risk and burden of a massive student loan? And how can individuals and families compete with major investment firms on buying a house?
To answer your questions:
1. Yes
2. You don't have to
It's ass.
In capitalist regimes, the rich remain rich because a willing middle class submits to their ideals. The rich own the credit card companies that the poor borrow from. The rich own the banks that pay out fractions of a percent in yield while making enormous profits via capital markets activities. The rich are also friends and lobbyists of the lawmakers that determine the fate of the majority in this country. The American dream wasn't designed to make you rich; it's a narrative spun by a coterie comprised of the nation's elite. It's a strategic and intricate device crafted to keep you where you are. It's a donkey and carrot model built to serve the system. While you're too busy chasing financial freedom through hard work and dedication, the American dream is adding more weight to your saddlebags
In Colorado at the very beginning of 2020 i was fine with a $12-13 an hour wage bc i was in college. Yet here, nearly 3 years later, i don't think i can live on my own with a $18+ an hour wage. It changed way too fast
@ripurring cry
Same here. I live a good 40 mintues from Atlanta, been back since mid-late of 2019 for Starbucks. Had to pay back student loans and covid made it worst. I get paid $15 and I'm not sure when I will ever move out most days.
That’s Biden’s America for you.
Facts
@@bigpicturethinking5620 did you miss that this was happening for some time now and inflation began under trumps administration.
Biden has to play damage control for the issues caused by the previous administration and he is completely incompetent to do so.
Please clarify that CEOs and managers get overpaid in a manner unhealthy for any economy, big and small.
Multiple Mcmansions for some, homelessness for the disabled, something in between for the rest. American Nightmare.
and then you have only fans girls making 1.5million$ a month
@@bdasaw Ya but those girls just won the genetic lottery and benefit from their business models being mostly a one person show with minimal over head. Not really comparable to CEOs and shareholders who make their millions off the backs of American workers.
@@bdasaw I never want to hear about wage gap ever again.
CEOs and managers get paid more because they have more responsibility and are directly held responsible for company performance. The bulk of their pay is in company shares not actual cash salary, which means they will actively lose a large part of their income if performance is poor. Further more, board of directors (who have large investments in the company) determine CEO pay so even they have a boss.
If you ever wonder why you're not paid as much as a CEO it's the same reason as you are not paid as much as a doctor or engineer, skills/IQ/performance/education just to name a few factors.
The USA does not pay us lower and middle classes enough for not everyone can be a doctor or a lawyer our government and our president seriously believes that $15 an hour is enough to live by 🤯 imagine families with 5 or more children and it doesn't feed a single man or woman alone
The standard of living hasn’t increased? That’s a huge lie. The average house has basically doubled in size. The average car has features, power, and comfort that weren’t available on the most expensive vehicles 30 - 40 yrs ago. Because of increased inter connectivity through social media and the internet, everyone now wants to live above their means.
One of two things needs to happen: Either wages need to increase dramatically, or cost of living expenses (mainly housing, transportation and food costs) need to decrease dramatically. Ideally, we get rid of single-family only zoning restrictions so we can actually build affordable housing, but I don't see that happening any time soon. Implementing a single-payer healthcare system would dramatically improve the life of most Americans, and completely eliminate the issue of gig and "unskilled" workers not having health benefits. But, I also don't see this happening in the near future.
All I can realistically hope for is that inflation will calm down over the next couple years and the labor market will remain competitive thanks to remote work and the boomers retiring. I think workers being able to negotiate better pay will be our most powerful weapon going forward. That and unions. Unionize, people!!
A company that pays employees under 20$ an hour tells you everything about that company and I’m so glad they are getting exposed now more and more. The whole fight for 15 is irrelevant now. It needs be fight for 20 with everything going on. You simply can’t live a normal life under that wage no matter who you are.
And just like that mom and pop close shop because the can't afford to pay their employees $20 hr
@@neilwarren3322 they dont need to close shop , but they will downgrade to only family employees. Where it says in the law you must be business owner?! If you can't afford driving Mercedes, you don't complain. You downgrade to Fiat, Chevy, Ford cars you can afford. Someone else with the same or better skills will take a piece of market you abandon because you said you can't afford higher wages.
Exactly. The fight is for $20 + base wage increases tied to inflation + merit / time based guaranteed minimum yearly increases atop that.
I work at Trader Joe’s and just got a raise so I’ll be making $17.80 after being there for a year. I also train new crew members and I’m a section leader, so I write orders for the store. They just made it so that we’ll earn $10/hr more on Sundays and holidays. I finally get to make a living wage one day per week! 🎉 that is, unless it becomes competitive and I’m no longer scheduled on Sundays or holidays. Everyone thinks TJ’s is awesome and it IS better than most grocery stores, but we don’t get paid enough. I live and work in a major city and my rent is $1,300 for the smallest, oldest, grossest studio apartment. That’s 3/4 of my wage. I think it’ll take customers complaining alongside workers for them to finally raise wages for everyone. Also, I don’t get paid extra for training or writing orders and I’m pretty sure I make at least $1/hr LESS than the new people I’m training. Maybe the only thing that will work is unionizing
And then when you get 20 what makes you think you're just not going to say 25 and so on
I'm getting really sick of the narcissism, selfishness, and idiocy in this country.
My rent went from 875 a month to 1200 a month, gas went up, electricity has gone up 36% in 18 months in my area, my health insurance is 228 a month, to buy a house in my town is going to start at 500k. My raises have been 1% annually mean while, I do my job, the job of the person who they laid off and my manager who delegates his responsibilities to me so he can socialize with others most of the day. I have to drive for extra money. I don’t think I will be able to retire when it’s time.
the usa is a capitalist hellscape.
Don't forget car insurance went up...My phone bill is going up for some odd reason next month and my RUclips TV and gas will go back up late Spring/ summer time
Basically, "if you fine us for polluting, we have to charge more." And, "If you make us pay taxes, we'll have to do layoffs." This is how Boeing, Walmart and Amazon roll.
The greed of rich corporations and politicians is the problem.
Suggesting that wage stagnation is a myth is patently false. Core commodities like education, medical, and housing have risen substantially faster than any other goods / service. You cant compare wages to cost of groceries, say wage stagnation is false, and then expect to be taken seriously.
@Ben Dover In a highly complicated economy one of the best ways to get ahead if you are on the lower end of economic ladder is to seek higher education, which suggests that education is something workers need as a resource and an investment, so that they can improve their communities over time.
@@sigurdhermann781 Sure, but it's still not a commodity. Commodities are raw materials and/or physical things of value. If you get a degree you can't sell or consume it...
Housing is arguably the only commodity on that list... and even that's a stretch. Core commodities would be like.... copper or corn...
MY WAGES REMAINED STAGNANT MY WHOLE WORKING LIFE OR THE LAST 40 YEARS AND BARELY ROSE 5%. MY MEDICAL DISAPPEARED. CEO PAY WENT UP OVER 300%. IT TAKES SOME LOW WAGE WORKERS LIKE DISNEYLAND, STARBUCKS AND WAMART EMPLOYEES TO WORK 6 MONTHS TO MAKE WHAT THEIR CEO MAKES IN ONE HOUR!
@@OneNewHope Commodity: a useful or valuable thing, such as water or time. Everything I listed can fall into that definition.
You shouldn’t use avg worker income. Instead use median income. Averages can be skewed more easily.
Averages do have their place. However, as you note, if Bill Gates visits my family during Christmas dinner the average person is a billionaire.
woefully underrated comment
That's the intent
Absolute agreement! But how many Joes-on-the-street know the difference between an average and a median?
Lemme say something your d-riding likers wont.... will this change DRAMATICALLY the conclusions... i dont disagree with your stmt, but please #stay-focused. I will say ... i am partial to the "head in oven, toes in the freezer, on avg "ok" critique
The final words of this were "low wage workers are not worth it." Typical Big business think.
All because of corporate greed.
Wtf CNBC, are you seriously acting like the Cato Institute is somewhat of an objective source on this issue? That would be like interviewing the Ku Klux Klan on civil rights. You really have lost all journalistic integrity.
Cnbc is part of the propaganda machine.
They lost that in the late 90s.
I don't think its a coincidence that with the decline of unions we've send a stagnation or in some cases a decline in wages.
wrong. Non union allows each worker to take jobs that will better themselves. If you are a welder and in a union and you leave one job for another (say you are in Chicago) and you stay in Chicago you most likely will be covered in the same union so switching jobs is pointless. Now if you are a non union welder and a competitor offers you more money... You go... cant do that if you are union
@@michaelwerbick It's been proven by every metric union jobs pay more than non-union jobs. What you're saying makes no sense and is false.
@@tupactargaryen thanks for telling him the truth the union just have to many clique in them
@@michaelwerbick union jobs pay 20% more than their equivalent non union jobs. And union fees are hardly even more than 5% of take home pay.
I'm a member of ibew local 11 and they are very complacent to wage stagnation.
It all comes down to greed. I hope it all crashes.
there isnt wage stagnation. there is skill stagnation
I work for a small company. Every time the subject of wages comes up, I hear several things: "We can't afford to pay what we're paying now"; "We're too small so, legally in Iowa, we don't have to offer benefits, paid days off, etc.,"; "If you quit, remember you signed a non competition agreement so you can't go to work for a competitor (who all pay better and offer benefits)". In six years the only vacation days I've had were unpaid and because the company truck I drive was down for repairs.
@ your seat at the table,…. You should quit that job! Plan your exit. You have allowed yourself to be in bondage
@@andreac6024 Probably, and yet there are some perks. I set my own schedule, the wife and I were homeless in the spring of 17' and they let us park our old RV at work, plugged in as often as we needed. This allowed us to save for a house, which we bought in late 18'. I'm old and I suffer from a warped sense of loyalty I guess.
I can sympathize with you.
I would NEVER sign a noncompete. If a company asks you to sign one, that's a major red flag.
@@extra_ice_girl Depends. In some specific tech areas intellectual property is rather valuable.
It's so terrible. Not enough pay yet rates are rising, inflation is peaking. Pretty much everything is going south. Just coming from a post where they said stocks are also getting hit. There's no single good news on the net. So it begs the question, how and where are intending investors now supposed to put their money. Is there no safe bet for newbies any longer?
Has to still be Stocks, most drops are temporary. Made my first million through it earlier this year at the peak of the inflation and all as a "newbie" (with the help of a pro though) I can comfortably retire now if I wanted to.
How much should be considered enough btw?
@@hildredscali1754 Funny enough, I can honestly relate. It's not as easy as it may sound and requires some sacrifices but it is definitely rewarding. I don't know if I am permitted to drop it here, but her name is "Leah Sandock Marie". Was in the news a lot in 2018. You can check her out online for more.
@@sakhalittle9206 Thank you
@@haydenchen3287 This right here is the second time I am coming across this name in a week. Came across her podcast and it was lit.
People gotta take money more serious now. You have to be intentional about your career prospects and earnings at an earlier age. There are so many forces to compete with nowadays.
Its not just a US problem either. UK and Canada is experiencing record inflations and lower wages being unable to afford a home and family.
CPI doesn't account for housing increases directly, nor does PCE which a huge portion of people's expenses. So wage stagnation can't be dismissed.
@@tellucas
Cheaper crap? So people should just eat dog food?
We are seeing that more and more of "official" numbers are fake. All to push evil political narratives rather than to tell the truth.
The CPI contains both rents ant OER, which I do think addresses housing sufficiently. I have my problems with the CPI but that isn't one of them.
@@klobiforpresident2254 CPI rents are not based on reality. Surveying boomers and asking them what they think rents should be is not a true measure of real rents. But that's how the CPI determines the rent number! Look it up if you don't believe me.
@@M123Xoxo
The CPI measures OER *and also rents directly*. You seem to have forgotten this second part. Odd. As for OER, I do have my problems with it, but overall it's not too bad a measurement. Try reading "Reconciling User Costs and Rental Equivalence: Evidence from the U.S. Consumer Expenditure Survey", a bit older, but still worth a look.
Yah that dude is an idiot or some kind of industry plant.. CPI does not overestimate wage growth comparison. CPI doesn’t account for college / university costs either. CPE is inaccurate because a consumer could be ‘spending’ the same amount as they did 10yrs ago.. but get less than 1/4 of what they did back then.
Nice try, CNBC. Essentially saying we need to be more productive for corporate to pay us better is a complete laugh.
Right. In the last 40 years ceo pay has gone up 1070% yet the workers pay has gone up 11%.
These companies are making record profits why should only ceo benefit from the record high profits? Yeah trickle down economic is working just fine 🙃
We can't get anymore productive! We are going too fast as it is!!!!
It's not about productivity alone, it is about having specialised skill sets that are more desireable, harder to obtain and automate. Examples include any type of actual engineering, medical professionals etc. The skill floor for workers has risen as automation takes over menial tasks, if your only skill sets are in being productive doing menial things then i have bad news for you because a robot will be 1000% more productive at that.
@@yt_nh9347 I am an engineer…
@@yt_nh9347 just saying, having specialized skills doesn’t help a bit with this issue.
the answer is pretty simple: corporate greed
Corporate greed and shareholders
In summary, this is a direct fault of the government and their policies which do not protect workers.. Worse is, they pretend like they don't know this. I for one has been hit very hard and at this point, I am more interested in a solution because I don't think an end is near. What is the way forward for the less fortunate ones like me? How do we survive this phase? I am slowly losing my mind.
Easy: Vote wisely, Spend only on necessities, Pay attention to your health, Try to spread your assets (locally and internationally) but of course be well informed about where you want to put your money. Made my first million this way earlier this year (got help though). Can comfortably wait out this "phase".
You are creating a lot of unnecessary tension for yourself. Its not that serious.
@@dr.karidouglas1312 Funny enough, I can honestly relate. It's not as easy as it may sound and requires some level of discipline. I don't know if I am permitted to drop it here, but her name is "Leah Sandock Marie". Was in the news a lot in 2018. You can check her out online for more.
@@marguritekostecki2194 wow I know this little lady. Once attended a fundraiser she was also in attendance in Ohio,, Great speaker with a funny accent,, She's American though, I doubt she works with outsiders,,,
@@onieodelia5840 This right here is the second time I am coming across this name in a week. Came across her podcast and it was lit.
End the fed. Stop corporations from importing cheap labor. Pay a living wage. Bring manufacturing back. Minimize lobbying from our politics.
Yup! Taxation is legalized theft. These Fed assholes don't do jack sh×t for our economy except steal our money in the form of taxea
If they can't import cheap labor, then they will export the jobs to cheaper countries! This is why there is hardly any manufacturing anymore.
Importing cheap labor is what pushes inflation at bay. It lowers the cost for certain goods and services.
Yeah I guess when they aren’t competing for “your” job.
I though Trump promised that 4 years ago.🤷🏾♀️🤣🤣🤣🤣
Oh oh I know, it’s cause corporations are too greedy to even want to pay their employees reasonably.
Its pretty simple here is an example of what happened at my former job. I was in the auto industry, Covid hit and the demand went way up and once the supplies ran out that's when all the marking up started. So what happened is Management was doing less work (because we sold half the vehicles we use to sell) and increased their salaries over double. So management was making double what the were making plus some and doing half the work. The sales people were kept roughly around the same as they were making and also doing half the work. So the sales floor was making the same, but management gave themselves a HUGE increase. So inflation happens and the struggle bus starts. Management is fine, they are buying boats, paying off their houses, buying high performance cars and sales is struggling to stay at the same salary. Its ridiculous. Then what started happening is when customers won't pay the adjustments, they would just sell the vehicles off the lot to another dealer for the market adjustment and then they don't have to pay the sales department. Pretty neat deal huh?