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0 pointsHaZeust7mo ago0 comments

>"First, young people make a lot more than they did 10 years ago (both nominally and inflation adjusted)."

I need a source on this, like [1], and I need you to also share the cost-of-living average increases, which PLAINLY show that despite wages increasing, the increasing costs for goods and services within that same time period have outpaced wage increase percentages [2][3].

And don't be a typical HN-crowder and say ANYTHING about wages in our industries — it's white-collar work, and a functioning society sees to accomplishing an ever-progressing standard of living for members in ALL sectors of the status-quo 'bell curve'.

Shit, even average household income is down 2k from 6 years ago [4]

1 - https://fred.stlouisfed.org/series/CEU0500000003

2 - https://fred.stlouisfed.org/series/CSUSHPINSA

3 - https://www.kff.org/health-costs/press-release/annual-family...

4 - https://fred.stlouisfed.org/series/MEHOINUSA672N

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mgraczyk7mo ago

Any source will do, here is the Atlanta fed

https://www.atlantafed.org/chcs/wage-growth-tracker

Click "age"

Then compare to price levels. Wages have outpaced price levels for this age group significantly

Here's men 16-24 showing 20% increase after CPI adjustment

https://fred.stlouisfed.org/series/LEU0252882200Q

EDIT: the data you shared is not specific to "young people", that's why it's different. While everyone's wages are up over the last 10 years relative to prices (according to the data you shared), young people have gained much more

HaZeustOP7mo ago

Rent, household items, cost of external activities, and health insurance (sometimes, see parents' insurance plans) are still subject to that group - which my sources show clear outpacing for - even with youth's increase in wages.

For someone that lives with their parents and works full time, yeah - they've probably never had it better. But a lot of youth right now have expenses drawn out in such a way where, even if they're making more than their predecessors, they have less upwards mobility for today, let alone any potential to invest in assets that afford them any upwards mobility in the future.

mgraczyk7mo ago

But what you are claiming is contradicted by the data you shared. When you weight the categories you listed by how much that age group spends, they still have more money (young people spend much much less on healthcare, you'd be shocked at how little they actually spend. You have to look at out of pocket costs, not provider charges which mostly not paid in full)

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wilg7mo ago

CPI inflation adjustment accounts for this, that's the purpose of it. You're trying to bend the data to your pre-existing beliefs.

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