this post was submitted on 01 Jan 2024
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politics

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whatever American consumers say about the state of the economy, they are spending as if their finances are in pretty good shape. Most recently, holiday sales appear to have been quite good.

...

Americans aren’t acting as if they’re terrified about crime. As I’ve written before, major downtowns have seen weekend foot traffic — roughly speaking, the number of people visiting the city for fun rather than work — recover to prepandemic levels, which isn’t what you’d expect if Americans were fleeing violent urban hellscapes.

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[–] [email protected] -1 points 10 months ago (1 children)

The stats literally show that prices went up but wages went up more.

There are specific subgroups for whom that has not happened. But for the population as a whole, it did

[–] [email protected] 2 points 10 months ago (1 children)

I'd have to see your stats because I don't believe that statement on it's face.

[–] [email protected] 0 points 10 months ago

https://fred.stlouisfed.org/series/LES1252881600Q

Note that layoffs during the pandemic disproportionately affected low income workers resulting in a spike in apparent wages