I think it’s a perception thing? Maybe people feel like they are earning more money than ever before but things cost more so they feel like they are losing money rather than earning less? I don’t know the answer but yea…. Prices are going up and they are still going up, and even if inflation is under control it feels like prices are going up faster than they were before….
Eating at a fast food restaurant I remember my first job I could get a burger for way less than one hour of work at my lowest wage I worked for I could get a whole combo meal at the fast food place next to one of my first jobs for about one hour of work…. Wages have gone up a bit but it’s not keeping pace so if i look at what my same job would pay per hour now it’s still not going to get me a meal for one hour of work, maybe only the burger.
Rather than losing money, it’s technically more correct to say that we’re earning less.
The real trick is converting to purchasing power of individuals and showing the trend overtime.
Like the average/median purchasing power of an American year by year. Not just purchasing power of a dollar, but of the average salary.
Edit:
Are down votes because I didn’t mention savings?
Like 50% have less than $500, over a third have less than $100
This functionally isn’t a problem for most so I ignored it considering the focus is on poverty and not how I flation effects the wealthiest.
I think it’s a perception thing? Maybe people feel like they are earning more money than ever before but things cost more so they feel like they are losing money rather than earning less? I don’t know the answer but yea…. Prices are going up and they are still going up, and even if inflation is under control it feels like prices are going up faster than they were before….
Eating at a fast food restaurant I remember my first job I could get a burger for way less than one hour of work at my lowest wage I worked for I could get a whole combo meal at the fast food place next to one of my first jobs for about one hour of work…. Wages have gone up a bit but it’s not keeping pace so if i look at what my same job would pay per hour now it’s still not going to get me a meal for one hour of work, maybe only the burger.