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Fast food workers to get a $20 minimum wage in CA
(www.cbsnews.com)
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this post was submitted on 28 Sep 2023
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Money is literally worth half of what it was when I graduated high school in the 90s. My senior year I worked as a grocery clerk and made $9.50/hr while in a small city in Oregon (not expensive California). Math works out for me.
Well, there's this, and this to say you're right. Had the minimum wage tracked in line with production, it would be ~$26 today. If it had tracked in line with inflation, it would probably be closer to $21.45.
That it's been flatlined for so long means people working for minimum wage have been getting steady pay cuts for 50 years.
It also happens that this is one of the reasons social security is straining financially- they were able to predict the demographic bulge of the baby boomers well enough, but they weren't able to predict that wages would be constrained in the way they have been- and wages are the basis for Social Security's funding.
I’ll just leave this here
https://wtfhappenedin1971.com/
This website gets posted a lot but the site itself doesn't really give any context, it's just nudges and winks. And people posting it never really give any context either.
So here is some more context.