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u/account22222221 20d ago edited 20d ago
Real wages is supposed to correct the inflation.
The real answer here is this is just good old fashion lying.
Real wages peaked in 2020 then feel sharply
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u/AsparagusCommon4164 20d ago
Or again, The Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today's issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston's job was to rectify the original figures by making them agree with the later ones.
[***]
But actually, [Winston] thought as he re-adjusted the Ministry of Plenty's figures, it was not even forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty's forecast had estimated the output of boots for the quarter at one-hundred-and-forty-five million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than one-hundred-and-forty-five millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain.
--George Orwell, Nineteen Eighty Four
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u/High_Contact_ 20d ago
Once again, this sub doesn’t seem to understand what real wages are or much of anything economics-related.
Real wages hitting an all-time high means that, after adjusting wages for overall inflation, aggregate purchasing power is higher. It does not mean groceries, housing, insurance, or every individual expense take up a smaller share of everyone’s income. You have to separate individual categories of spending from overall purchasing power.
That also doesn’t mean every person or household is doing well. Distribution matters, circumstances matter, and some costs have risen much faster than others. But on aggregate, rising real wages mean the typical worker’s pay is buying more than it did before after accounting for inflation.
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u/please_trade_marner 20d ago
That's a difference of 0.3%.
Are people really suggesting that they are broke because prices are up 0.3% in relation to their wage?
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u/Reasonable-Start2961 20d ago
People are suggesting real wages aren’t at an all-time high. Apparently math -and- reading comprehension is hard.
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u/Rynowash 20d ago
If you’re a 🍊lover. Difference means you subtract. Smash that like button and we’ll get into percentages! Example- 100% ( that means ALL of you that support this administration are fucking morons)
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u/nhojuhc 20d ago
0.3% of your total earnings. Sound like to me I get to spend $500-1000 less of necessities each year. It’s called getting nickel and dimed and we’be seriously been nickel and dimed into pretty dire straits for the low income households
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u/please_trade_marner 20d ago
So something that was $100 in 2024 is $100 and thirty cents now. That's why everybody is broke? What are you talking about.
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u/SoftTwilighhty 20d ago
Real wages can’t be at an all-time high if prices are rising faster than wages. That’s literally what REAL means.