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Under Biden, U.S. economic growth becomes the ‘envy of the world’ (www.msnbc.com)

submitted 5 months ago by mozz@mbin.grits.dev to c/usnews

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[–] t3rmit3 5 points 5 months ago (1 children)

Don't be deceived. This person is misrepresenting statistics.

Here's the link they provided me about their claims about the low-end wage growth:

https://www.epi.org/publication/swa-wages-2023/

This is where they're getting their 35% claims from.

And here's what it says under Key Findings:

Wage rates remain insufficient for individuals and families working to make ends meet. Nowhere can a worker at the 10th percentile of the wage distribution earn enough to meet a basic family budget.

[–] mozz@mbin.grits.dev 2 points 5 months ago

Yeah that's me, Mr. Dishonest, over here explaining what the cumulative wage growth is, and the cumulative inflation, so that people can compare the two and see which one is higher

I actually originally cited the source which simply said that inflation-adjusted wages had grown by 12%, incorporating both into a single number, but that led to a certain amount of confusion, so I separated it out into the two relevant numbers

You know, like a terribly dishonest person would do

(And yes, the poorest 10% of this country is still fucked and needs quite a lot of help. My point was not that they're doing okay now, it was that they have seen substantial gains relative to where they were, which is a notable thing, and that we should keep doing the things that got them going in the right direction for once in God knows how long.)