After searing inflation, "American workers are getting ahead," Treasury Secretary Janet Yellen says ( www.cbsnews.com )

As of the end of 2023, the typical U.S. worker could afford the same goods and services as in 2019, prior to the pandemic, and had an additional $1,400 to spend or save per year, according to a January analysis by Treasury officials.

Demar Byas of Pontiac, Michigan referred to experts touting the nation's economic performance as a "slap in the face."

"You're celebrating these numbers, but we are struggling," said Byas, who juggles several jobs to make ends meet. "It's no relief in sight, and just say those numbers and to celebrate that, and as I said stuff becomes a slap in the face."

Nudding ,

Yeah I don't think this is something they're gonna be able to talk people into lol. The economy might be doing okay, but that means fuck all for the average Joe.

protist ,

It always takes time for these sorts of numbers to permeate society and for people to feel a difference. This is why inflation might feel like it's more acute today when it's down to 3% than when it was at 8%, because it took time for those costs to sink in. As prices have stabilized and wages are still rising, people are going to start feeling a bit better about their economic positions, but it's going to take time for them to feel it

krashmo ,

Still, when you say "wages are still rising" you mean companies are, on average, offering slightly higher pay to new hires. That doesn't help anyone who has been working the same job since covid started. All they see are higher prices. Averages can be useful metrics but this particular average means fuck all to a huge chunk of working people.

DogPeePoo ,

Janet Yellen takes money from Goldman Sachs and many other K-street banks and continues to do their bidding.

All while unabashedly lying and shitting all over the American citizenry.

She’s been lying about inflation for YEARS now. She thinks we are clueless.

return2ozma OP ,
@return2ozma@lemmy.world avatar

Correct.

DogPeePoo ,

Apparently Yellen has some fans in here who dislike facts/history.

So fucking weird, it’s all verifiable information. I’m sick and tired of being gaslit. This administration actually changed the definition of RECESSION

Every administration lies, but it has gotten completely ridiculous.

dan42O ,

Where the stats they use. Are they following one family or an entire town in bumpkins-ville-field-ton to make these statements. Taxes aren’t even due, earnings reports mean diddly from companies who have hit “record profits” after global pandemic. Whose ass do these economists sniff to get this numbers crunched. We still have variances in from 350$k earners hiding money, all while people less than 100k$ can afford to put down payments for cars, houses, food, credit cards, student debt.

moog ,

I am?

circasurvivor ,

Well, you have to be one of those "hard workers"... like CEOs.

Nobody ,

Remember to translate economic news properly.

The Economy Rich people’s yacht money is at record highs, so clearly we don’t have a problem with inflation corporate price gouging to keep their profit margins above the margins when they were stealing from taxpayers during Covid.

some_guy ,

Don’t look at the man behind the whatever. Things are awesome, I’m tellin’ ya!

andrew ,
@andrew@lemmy.stuart.fun avatar

I've gotten three raises from my company that haven't kept pace with inflation lol. It's ridiculous. Oh, and insurance benefits cut substantially.

Mammal ,
@Mammal@lemmy.world avatar

Any increase I've experienced in my pay has been completely surpassed by healthcare bills and inflation.

return2ozma OP ,
@return2ozma@lemmy.world avatar

And gas and groceries and...

pan_troglodytes ,

must be weird to be so divorced from reality....

linkshulkdoingit69 ,
@linkshulkdoingit69@lemmy.nz avatar

This is almost on the level of Maoist censorship of any societal ills, while reporting that "all is well as it should be, as laid out for us by our benevolent system"

jonne ,

Reminds me of the prices of commodities always 'going down' in 1984.

bingbong ,

There is no war in Ba Sing Se

return2ozma OP ,
@return2ozma@lemmy.world avatar

"The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command." Orwell, 1984

Burn_The_Right ,

Fuck. Janet. Yellen.

TIMMAY ,

Another crypt-keeper-style government official

derf82 ,

Looks at my paycheck

Looks at my last grocery receipt

Bullshit

Asafum ,

exactly.

I buy the same stuff every week. The most that changes are condiments I don't need frequently. My grocery bill went from $60-70/week to $100-$110/week. That number hasn't budged one iota. Neither has my income.

dan1101 ,
@dan1101@lemm.ee avatar

Groceries, property taxes, insurance, restaurants, electricity, it's all going up.

Vodica ,

She need to learn difference between main and median.

kandoh ,

People will say the economy is bad for as long as it takes for them to acclimate to post-covid price increases.

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