After adjusting for inflation, wages are higher than at any point in U.S. history, and after adjusting for age and sex, the percentage of the population that is employed is around its peak in U.S. history.
After adjusting for inflation, wages are higher than at any point in U.S. history, and after adjusting for age and sex, the percentage of the population that is employed is around its peak in U.S. history.
This is great, and the economy is clearly way better than many of us feel in our wallets.
My problem with this framing is that the job market is just different today than it was a few years ago. In order to get paid what you’re worth, you basically have to be on the job market permanently. If you don’t hop from one job to the next, your wages will quickly stagnate. I like my job, and I get very small raises every year or two. My salary is reasonable, but not great, and the raises are usually 1-3%, barely inflationary. I know I could get way more if I put myself back in the market, but I don’t want to do that, because like I said, I like my job and have been there for 5 years. I don’t want to have to be a hustler to be paid what I’m worth, I want to be loyal to a company that pays me fairly. I probably need to get over this antiquated way of thinking, but just considering going back to selling myself on the job market gives me heartburn.
Don’t know who you work for, but it is a safe bet loyalty is foolish. You are at high risk for being dumped for little to no reason as soon as you become too costly. 1-3% raises are honestly shit and isn’t rewarding for increased experience/performance at all. Any company that barely (in fact since Covid 1-3% is not even) keeps up with inflation is flat out taking advantage of your apathy.
At that percentage, you are losing money every year. Ask them for more since you are worth as much, and if they refuse, then your loyalty isn’t being rewarded or even acknowledged.