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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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55553880 No.55553880 [Reply] [Original]

>housing prices higher than ever
>wages not going up
>more layoffs on linkedin
>those laid off earlier in the year still haven't found work
>government says there's no problem

It's happening isn't it?

>> No.55553891

>It's happening isn't it?
always has been
now stop spamming the board faggot

>> No.55555299

>>55553880
Heihachi buddy didnt you die

>> No.55555338
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55555338

>>55553880
For some of us, it's happened already

>> No.55556148

>>55553880
Yet the official numbers say inflation is down and employment is back at 2019 numbers... Wtf is going on?

>> No.55556178
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55556178

>>55553880
>433842099 (OP) #
https://dqydj.com/historical-home-prices/
source: Federal Housing Finance Agency
>median home value USA 1974: $28,789.00
>median home value USA 2023: $379,068.00

https://fred.stlouisfed.org/series/FEDMINNFRWG
source: US Department of Labor
>federal minimum wage USA 1974: $2.00/hour
>federal minimum wage USA 2023: $7.25/hour

>hours of work at federal minimum wage required to earn the median home value in 1974: 14,394.5 hours (6.5 years working 43 hours/week, 50 weeks / year)
>hours of work at federal minimum wage required to earn the median home value in 2023: 52,285.24 hours (24.32 years working 43 hours/week, 50 weeks / year)
>What the federal minimum wage SHOULD BE to earn the median home value in 14,394.5 hours: $26.33/hour

But nobody actually earns min-wage, so here are some Stats what people were actually earning.

https://babel.hathitrust.org/cgi/pt?id=mdp.39015021301612&view=1up&seq=406
source: US Bureau of Labor Statistics
>Data for production workers / nonsupervisory employees in various industries
>Total, gross hourly earnings (1974) by Industry:
>Manufracturing: $4.41/hour
>Mining: $5.21/hour
>Contract construction: $6.75/hour
>Transportation and public utilities: $5.43/hour
>Wholesale trade: $4.49/hour

Using the previous metric we can calculate what those people should be earning today:
>Manufracturing: $58.06/hour
>Mining: $68.59/hour
>Contract construction: $88.86/hour
>Transportation and public utilities: $71.49/hour
>Wholesale trade: $59.11/hour

Keep in mind we are talking about NON-SUPERVISORY employees here, e.g. for Construction sites it's the Mexican worker-grunts, not the guy giving orders.
So tell me, can some random lad who didn't even finish his highschool diploma go to a random construction site, give the Boss-man a firm handshake and start working the next day for $88.86/hour?
No? Because that was the reality boomers were living in 1974.

>> No.55556201
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55556201

>>55556148
It’s called stagflation. It’s when they keep printing money but hike interest rates at the same time causing inflation and tighter lending to fuck the working and middle class into the ground. They want to force us onto UBI where we will take any shot they want to keep money coming in.

>> No.55556499

>>55556201
What is one supposed to do about it?

>> No.55556613

>>55555338
you ok there, leafs?

>> No.55556635

>>55556499
Party on, Wayne!