| Viper1 said: Average pay went down? Where? Everyone I know has made more money each year since I got out of high school 12 years ago. The weakening currency is partly his fault and largely the fault of the stupid illegal Federal Reserve. It's not even a government entity but it controls our money and is no longer backed by gold like it used to be. Oh, and sales aren't really dropping as evidenced by Sullas great post. |
Average real wages (real means adjusted for inflation) peaked in the early 70s. They've tended to fall or stay stagnant since then. The reason people haven't been getting poorer in a material sense during this trend is thanks to increasing technology making goods cheaper over this time peroid.
Your acedotal evidence gleaned from everybody you've known since high school probably has more to do with individuals climbing the corporate ladder than changes in real wages or inflation. I'm pretty confident that the average 30 year old is richer than the average 20 year old.
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