General Discussion

Probatim

(3,290 posts)

24. Does that also mean those making $30-$60/hour also saw 25%-35% wage increases?

Fri Nov 12, 2021, 11:59 AM

Nov 2021

https://www.cnbc.com/2021/11/05/jobs-report-november-2021.html

In this link, wages rose 4.9% YOY and 0.4% for the month.

Supply chain disruptions are inflating the cost of most goods. Food costs are up significantly in the last few months, there are very few new cars being made due to a chip shortage - this has disrupted the used car market as well, fuel and shipping costs are up - due to demand, and there are many other areas where demand has outstripped supply.

We're all paying a lot more than we did a year ago and it's not all from higher wages.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

39 replies

= new reply since forum marked as read

Highlight:

Robert Reich: The Real Cause of Current Inflation Is Corporate Power [View all] kpete Nov 2021 OP

Yes, but it is partly about paying for higher wages, you knew consumers would pay eventually bucolic_frolic Nov 2021 #1

True, but ... Martin Eden Nov 2021 #13

Wages increasing at 1/10s of a percent does not correlate with 6%-8% inflation. Probatim Nov 2021 #20

Well yes it does bucolic_frolic Nov 2021 #21

Does that also mean those making $30-$60/hour also saw 25%-35% wage increases? Probatim Nov 2021 #24

I didn't say it did, that was your extrapolation or assumption bucolic_frolic Nov 2021 #32

Boy, do I disagree with Reich on this. The inflation that we are experiencing is a direct result JohnSJ Nov 2021 #2

Believe "supply & demand" capitalism had a hand in there also. KS Toronado Nov 2021 #3

Yes, It is about supply and demand, and the pandemic is directly related to that and the JohnSJ Nov 2021 #5

Pay employees a living wage, bring down prices through the asiliveandbreathe Nov 2021 #4

Consumers are being gouged across all sectors, from food to transportation to housing dalton99a Nov 2021 #6

In reality it is the oligarchs' market not the so called free market malaise Nov 2021 #7

Oh! I like that ... Oligarch's Market bucolic_frolic Nov 2021 #8

Precisely malaise Nov 2021 #9

This message was self-deleted by its author malaise Nov 2021 #10

Maybe I'm just paranoid because of wnylib Nov 2021 #12

Paranoid? Not so much. Mr. Evil Nov 2021 #19

You mean like they did here malaise Nov 2021 #28

It's like the corporate media and wnylib Nov 2021 #39

You hit the nail on the head! pandr32 Nov 2021 #25

Should have written Oligarchs' Market malaise Nov 2021 #26

He's right. Every step of the monopolists' marketnot, it's pricing, keeping it high as possible ancianita Nov 2021 #11

Yup. wnylib Nov 2021 #14

Nvidia and AMD are good examples of what happens when your options are limited because cstanleytech Nov 2021 #16

Doesn't Intel make video graphics cards? ancianita Nov 2021 #18

They announced that they are sticking their toes into it but cstanleytech Nov 2021 #38

I think that Naomi Klein had it right HighFired49 Nov 2021 #27

Yes, she did, and yes, they do! Capitalists worsen disasters effects if that will raise profits. ancianita Nov 2021 #37

Very true. nt cstanleytech Nov 2021 #15

Economics is easy. hunter Nov 2021 #17

They screamed about mere possibility of a public option in healthcare. Ligyron Nov 2021 #31

A perfect example of this lack of competition is the meat packing industry SmittyWerben Nov 2021 #22

Ok. But why did they wait till 2021? fescuerescue Nov 2021 #23

And maybe the "pandemic" excuse. moondust Nov 2021 #29

Cronyism and collusion at it's worst. nt live love laugh Nov 2021 #30

Anybody remember Nixon's "wage and price controls "? Ligyron Nov 2021 #33

Typical garbage take from RR. The prices for the last 2 decades have been historically stable mathematic Nov 2021 #34

Price gouging and they are using it to block an increase in the federal minimum wage. ShazamIam Nov 2021 #35

OPEC cartel controls oil supply IronLionZion Nov 2021 #36