And just for context, if you work 40 hours a week for $15 (well above minimum wage), your annual pre-tax income is $31,200.
The workers of the US really need unionize. Here in Scandinavia the average pre-tax income is closer to $84,000 with a 36-hour work week. We do however have a higher tax-rate, so that ends up at around $45,000 after taxes. Cost of living is also generally higher that the US. Of course that higher tax gives us free health care and education.
I really don’t know how people are existing in today’s hellhole of a capitalistic landscape. I’m fairly lucky with a good-paying job and a lowish house payment. I’m still paying a lot more for food and whatnot than I did before covid.
Of course you’re paying more, it’s called inflation. You also have a higher income than you did before COVID, but you didn’t mention that
Naw, naw, it’s cool… see, surely their income went up 30% in 5 years, right?.. Right?
But we matched inflation last year! That means everything’s okay now doesn’t it? The inflation from previous years just goes away!
We beat inflation
https://www.bls.gov/news.release/eci.nr0.htm
Check the constant dollar column, all positive
It did, actually: https://fred.stlouisfed.org/series/LES1252881500Q
I mean… I’m up in Canada but in one of the highest cost of living cities in the country which isn’t as bad as San Francisco or NYC but it’s bad…
20k is 1666 a month extra.
The only thing thats gone up $1666 a month more would be a larger house.
Fancy 1 bedrooms are up to 2000-2500 and they were never $334 to 734 even 15 years ago.
Something is wrong with that headline or their math
Rent as a percentage of income. General rule (and what I’m assuming the article is using without getting around the paywall) is 1/3 of your income should be rent. So if the avg rent in 2019 was $1666 and it’s now $2000 you should be making $80k/year instead of $60K.
I’m old enough to have learned that housing should be 1/4 of your take home pay
It’s a good thing Republicans are NOT trying to make Homelessness ILLEGAL and punishable by PRISON!
