And working less hours is also skewed by the rise of millions of gig jobs that don't have set hours.
The top 25% of the population is doing great by any measure. But when you discard the top 25%, the rest doesn't look so good. Income inequality in US is higher than almost every other industrialized nation. As high as it was in the 30's when massive social unrest gave rise to unions and worker protections.
When you factor in student loan debt and minimum wage being degraded by inflation and gig jobs, the bottom 50% are poorer than ever. As of this year, student loans have eclipsed credit card and auto loans as the second largest form of consumer debt behind mortgages
Median is very misleading because of rise in income inequality. More than 50% of gains in median income last 20 years have gone to the top 25% https://www.pewsocialtrends.org/2020/01/09/trends-in-income-...
And working less hours is also skewed by the rise of millions of gig jobs that don't have set hours.
The top 25% of the population is doing great by any measure. But when you discard the top 25%, the rest doesn't look so good. Income inequality in US is higher than almost every other industrialized nation. As high as it was in the 30's when massive social unrest gave rise to unions and worker protections.
When you factor in student loan debt and minimum wage being degraded by inflation and gig jobs, the bottom 50% are poorer than ever. As of this year, student loans have eclipsed credit card and auto loans as the second largest form of consumer debt behind mortgages