Salaries fell 8.2% in five years while house prices rose 56%. 97% of occupations’ salaries lag behind inflation.

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  • Salaries:
    • According to Moneywise, salaries have fallen by an average of 8.2% over the last five years.
    • This decline in salaries can have significant implications for individuals and households, affecting their purchasing power and financial stability.
  • House Prices:
    • Despite the decline in salaries, house prices have risen by an average of 56% during the same period.
    • The increase in house prices can be attributed to various factors, including demand-supply dynamics, low interest rates, and speculative investment in real estate.
  • Salaries vs. Inflation:
    • 97% of occupations’ salaries have failed to keep up with inflation over the last five years.
    • When salaries do not keep pace with inflation, it can lead to a decrease in real income, making it harder for individuals to maintain their standard of living.
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Sources:

https://twitchy.com/amy-curtis/2024/07/02/bidenomics-baby-salaries-have-fallen-82-over-the-last-five-years-n2397853

https://twitchy.com/dougp/2024/04/25/biden-economic-adviser-says-economy-is-solid-than-ever-if-you-dont-look-at-all-the-bad-stuff-n2395521

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