this post was submitted on 25 Sep 2023

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US Sees Highest Ever Increase in Poverty (consortiumnews.com)

submitted 1 year ago by Blursty@lemmygrad.ml to c/worldnews@lemmy.ml

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[–] what_is_a_name@lemmy.world 10 points 1 year ago* (last edited 1 year ago) (1 children)

Is the cost of living crisis that crazy?

I left the US in 2017 tired of a decade of stagnant wages.

Of course in 2018 the wages started spiking. But is all of it eaten by cost of living increases?

[–] Jerkface@lemmy.world 33 points 1 year ago

Yes. A congressional report found that nearly 50% of inflation went straight into corporate coffers. Record profits across the board. They turned the dial up until our wage gains were all gone.