$20 USD/hr is a pretty good wage gd. I’m sure you can’t afford to live in SF for that but I bet you’re probably able to gather some savings at least in a lot of the lesser towns with that.
national minimum wage would be like 25 if it kept pace with productivity since the 1970s
inflation pre-covid, no idea what the fuck it should be now. something like twice as much if it was on pace with executive plundering.
They’re talking about the decoupling of productivity and wages in the late 70s. If wages had increased in line with productivity increases minimum wage would be like $28-30/hr. The highest minimum wage (adjusted for inflation) was in 1968 and would be about $15/hr today. The real theft is that we produce so much more surplus value than 40 years ago and receive none of it in compensation.
It’s been 7.25 since 2009. From a quick google it says rent increases (what actually matters to minimum wage employees, not CPI) have outpaced inflation at about 9% increase per year. So, going with that, 7.25(1.09)^15 is about $26.41.
Yes but practically speaking for most wage work in CA workers have made a lot more than that (but not $20/hr) for many years. CA has a state minimum wage that is usually much higher than the federal.
The federal minimum wage represents a legal floor but it’s so low and never changes that it’s functionally meaningless.
I didn’t say it was enough, but for a neoliberal hellhole it’s way higher than I would have imagined. A $20 USD/hr wage where I live would be a huge win for the left wing, and our cost of living isn’t appreciably different.
I have a $21/hr guarantee at my job in rural Ohio and it isn’t enough to cover my rent, student loans, car payments, and general living expenses. No idea how anyone is supposed to cut in on $20/hr in California.
$20 USD/hr is a pretty good wage gd. I’m sure you can’t afford to live in SF for that but I bet you’re probably able to gather some savings at least in a lot of the lesser towns with that.
national minimum wage would be like 25 if it kept pace with productivity since the 1970s
inflation pre-covid, no idea what the fuck it should be now. something like twice as much if it was on pace with executive plundering.Isn’t national minimum wage in the US $7.25? I don’t live in the US but I know y’all didn’t have 300% inflation in the past 4 years
They’re talking about the decoupling of productivity and wages in the late 70s. If wages had increased in line with productivity increases minimum wage would be like $28-30/hr. The highest minimum wage (adjusted for inflation) was in 1968 and would be about $15/hr today. The real theft is that we produce so much more surplus value than 40 years ago and receive none of it in compensation.
yeah, productivity. that’s what i get for posting tired
It’s been 7.25 since 2009. From a quick google it says rent increases (what actually matters to minimum wage employees, not CPI) have outpaced inflation at about 9% increase per year. So, going with that, 7.25(1.09)^15 is about $26.41.
You need to add that 9% to the average rate of inflation, so this should actually be higher.
Edit: 7.25(1 + .02 + .09)^15 = 30.28 Edit: Misread
It was set at 7.25 in 2009 and was way under what it should’ve been at that time
Yes but practically speaking for most wage work in CA workers have made a lot more than that (but not $20/hr) for many years. CA has a state minimum wage that is usually much higher than the federal.
The federal minimum wage represents a legal floor but it’s so low and never changes that it’s functionally meaningless.
20$ isn’t enough if we’re being honest
I didn’t say it was enough, but for a neoliberal hellhole it’s way higher than I would have imagined. A $20 USD/hr wage where I live would be a huge win for the left wing, and our cost of living isn’t appreciably different.
I have a $21/hr guarantee at my job in rural Ohio and it isn’t enough to cover my rent, student loans, car payments, and general living expenses. No idea how anyone is supposed to cut in on $20/hr in California.
I live in SoCal and make just under $20 and I can’t afford an apartment within 100 miles of my workplace
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I barely make rent at 20