That doesn’t sound like a good run at all, that sounds like a less terrible run than other terrible runs. Literally wages did not keep up with inflation. The net economic power of workers went down. That’s not a good run.
The aggregate economic power of workers went up, because the actual number of workers went up by 20 million, or 14% of the workforce as of July 2020, and the number of unemployed or involuntarily part time went down over that period of time. There were a lot more wages being distributed per unit population, even if the real wages slightly decreased per worker.
I mis-spoke by saying “net economic power of workers” instead of “economic conditions for the average individual worker”. I have a feeling you understood what I meant anyway: People are hurting more and more.
That doesn’t sound like a good run at all, that sounds like a less terrible run than other terrible runs. Literally wages did not keep up with inflation. The net economic power of workers went down. That’s not a good run.
The aggregate economic power of workers went up, because the actual number of workers went up by 20 million, or 14% of the workforce as of July 2020, and the number of unemployed or involuntarily part time went down over that period of time. There were a lot more wages being distributed per unit population, even if the real wages slightly decreased per worker.
I mis-spoke by saying “net economic power of workers” instead of “economic conditions for the average individual worker”. I have a feeling you understood what I meant anyway: People are hurting more and more.