TIL- The idea of how much you can afford to buy with your income is called “real income.” And if real income falls, that’s called a recession.
CainTheLongshot @ CainTheLongshot @lemmy.world Posts 1Comments 25Joined 2 yr. ago
CainTheLongshot @ CainTheLongshot @lemmy.world
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Does the median income track the boss's newly increased wages, then?
It's something I've been thinking about for awhile now. That labor wages are stagnating but because "management" level, and higher, salaries are increasing with productivity, these Median Real Wage statistics are skewed, showing the increase.
I would have no way of separating out labor wages from the management level wages though, was just curious how it's calculated.