Quote:
Originally Posted by IowaHawkeyeChief
Wages have been pushed down by NAFTA and illegal immigration. This is not meant to be a political statement as it is documented and quantifiable. I was a free market guy as an Economics major, but it has decimated the middle class. That being said, I see many of today's youths using door dash regularly, having the newest and best Iphone/Galaxy etc. Wealth doesn't come easy, but I've seen a lot of young folks with average jobs who are in great shape in their 30's.
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It's much more complicated than blaming illegal immigration and iPhones. The decline began well before NAFTA. Around the late 70s is when compensation started to lag dramatically behind productivity.
Wages were actually increased at the implementation of NAFTA if you look at the data. But haven't actually changed much overall since 1980, except for those at the top. It's actually gotten worse for the lowest group.
It also corresponds with the dramatic decline in union membership, which used to protect wages.
Meanwhile, CEO pay is out of control. Employers are providing less health coverage despite price increases.
https://www.epi.org/publication/char...ge-stagnation/