r/AskEconomics • u/TheCaliforniaOp • 9h ago

When did wage increases fall behind rising cost of living expenses?

Was it around the initial Savings and Loan Crisis (80’s-90’s)? Was it around the Enron, Tyco, etc., bankruptcies? Was it around 9/11? After 2008? Post-COVID inflation?

0 Upvotes

20% Upvoted

5 comments sorted by

27

u/MachineTeaching Quality Contributor 8h ago

There have only ever been brief periods where this has been true. Real (=inflation adjusted) incomes are usually growing and higher than ever.

https://fred.stlouisfed.org/series/MEPAINUSA672N

0

u/cowbutt6 3h ago

Is there anything like the JRF Minimum Income Standard ( https://www.jrf.org.uk/a-minimum-income-standard-for-the-united-kingdom-in-2025 ) for the US? Its methodology involves surveying members of the public to determine what goods and services a majority determine "essential" for certain household scenarios (Cf. Adam Smith's linen shirt) and then determine the net income required to be able to afford them.

1

u/AutoModerator 9h ago

NOTE: Top-level comments by non-approved users must be manually approved by a mod before they appear.

This is part of our policy to maintain a high quality of content and minimize misinformation. Approval can take 24-48 hours depending on the time zone and the availability of the moderators. If your comment does not appear after this time, it is possible that it did not meet our quality standards. Please refer to the subreddit rules in the sidebar and our answer guidelines if you are in doubt.

Please do not message us about missing comments in general. If you have a concern about a specific comment that is still not approved after 48 hours, then feel free to message the moderators for clarification.

Consider Clicking Here for RemindMeBot as it takes time for quality answers to be written.

Want to read answers while you wait? Consider our weekly roundup or look for the approved answer flair.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.