glizzyguzzler@lemmy.blahaj.zone to 196@lemmy.blahaj.zone · 9 months agoinflation rulelemmy.blahaj.zoneimagemessage-square27fedilinkarrow-up1901arrow-down10
arrow-up1901arrow-down1imageinflation rulelemmy.blahaj.zoneglizzyguzzler@lemmy.blahaj.zone to 196@lemmy.blahaj.zone · 9 months agomessage-square27fedilink
minus-squareOldWoodFrame@lemm.eelinkfedilinkarrow-up2·9 months agoMaybe my math is wrong somewhere but I converted to dollars, multiplied the monthly amount by 12, and divided by 2080 (52 weeks*40hrs) and got $7/hr. If they’re excited about the “millions” being helped by a 5% increase to $7/hr their economy is probably not a good comparison to the US.
minus-squareSpesknight@lemmy.worldlinkfedilinkarrow-up1·9 months agoCosts of living is not the same, you cannot compare the totals, it is better to compare the rise amount (in wages vs inflation). That was the point of the thread, right?
Maybe my math is wrong somewhere but I converted to dollars, multiplied the monthly amount by 12, and divided by 2080 (52 weeks*40hrs) and got $7/hr.
If they’re excited about the “millions” being helped by a 5% increase to $7/hr their economy is probably not a good comparison to the US.
Costs of living is not the same, you cannot compare the totals, it is better to compare the rise amount (in wages vs inflation). That was the point of the thread, right?