Google, Amazon, Microsoft and a raft of others fired thousands of workers in January, continuing a layoff wave that began in 2022.

The U.S. economy is booming. So why are tech companies laying off workers?::undefined

  • Cryophilia@lemmy.worldEnglish
    5·
    10 months ago

    “Real wages” takes that into account. The term “real” (as in “real wages”, “real earnings”, etc) means the increase in money minus the increase in inflation.

    So for example the top paragraph says there’s been a “3.2 increase in real earnings”. That means there’s been a (pulling numbers out of my ass to illustrate): 7.5% increase in earnings, but also a 4.3% increase in inflation.

    • Brainsploosh@lemmy.worldEnglish
      6·
      10 months ago

      But price increases of cereals ( bread, pasta, grains, etc.) increased by about 7,5 % last year alone, which is more than the inflation, and more than the increase after inflation.

      That’s where people might complain. They still can’t afford food, as food prices increase faster than overall inflation

      • Cryophilia@lemmy.worldEnglish
        5·
        10 months ago

        That’s a fair criticism, and the Biden administration is looking into more specific action with regards to grocery stores. More work needs to be done to bring food costs to a reasonable level. I’d also support a revising of the CPI to better account for necessities like food and housing.