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https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/LES1252881600Q https://fre

https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q Over the time period since the original iPhones release, median household income and median full time wage have both grown faster than inflation.

epolanski 3y ago
That has to be true only for some countries in the world, but far from being the average. I don't think this applies to most of (western) Europe or Japan e.g.
- randomdata 3y ago
  The article is explicitly adjusted to US inflation, not Japan inflation, or anywhere else. In the US, wages have grown faster than inflation.
  - gjsman-1000 3y ago
    That’s a debatable statement. Housing? Especially for someone without a house?
    - mlyle 3y ago
      Housing is a component of the consumer price index used to measure inflation. The proportion matches the proportion of household spending that most USians spend on housing. Of course, not every household is the average household. Some households spend more of their spending on things that have increased more than the average household. Some spend less of their spending on such things. And, of course, even if the average wage has risen quicker than inflation, that doesn't mean any specific household's wages have.
      - gjsman-1000 3y ago
        How about, instead of looking at the average, you look at the median.
        mlyle 3y ago
        I said "average" not "mean". The median is a form of average. BLS looks at mostly median households in the survey dataset, but also considers means of some aggregates, when choosing weightings of goods in the basket. I suspect in the specific case you're talking about -- housing -- using the mean would overweight housing in the basket.
    - deleted 3y ago
      [deleted]
  - chiefalchemist 3y ago
    Perhaps over the small window, but still lagging over the longer. So ultimately using the shorter window is data cherry-picking. Yes, the iPhone has a definitive start so the window makes sense, but keep in mind citizens / workers / taxpayers / consumers were plenty behind inflation at that point. Anecdotally, I don't think I know anyone who believes they're ahead of inflation.
    - randomdata 3y ago
      Wages have grown pretty consistently above inflation since around the year 2000. There was a period in the 80s where wages fell behind inflation, but that has long been made up for and then some. > Anecdotally, I don't think I know anyone who believes they're ahead of inflation. That's the human condition, though, isn't it? Always thinking it needs more.
- deleted 3y ago
  [deleted]

epolanski 3y ago

That has to be true only for some countries in the world, but far from being the average. I don't think this applies to most of (western) Europe or Japan e.g.

randomdata 3y ago
The article is explicitly adjusted to US inflation, not Japan inflation, or anywhere else. In the US, wages have grown faster than inflation.
- gjsman-1000 3y ago
  That’s a debatable statement. Housing? Especially for someone without a house?
  - mlyle 3y ago
    Housing is a component of the consumer price index used to measure inflation. The proportion matches the proportion of household spending that most USians spend on housing. Of course, not every household is the average household. Some households spend more of their spending on things that have increased more than the average household. Some spend less of their spending on such things. And, of course, even if the average wage has risen quicker than inflation, that doesn't mean any specific household's wages have.
    - gjsman-1000 3y ago
      How about, instead of looking at the average, you look at the median.
      - mlyle 3y ago
        I said "average" not "mean". The median is a form of average. BLS looks at mostly median households in the survey dataset, but also considers means of some aggregates, when choosing weightings of goods in the basket. I suspect in the specific case you're talking about -- housing -- using the mean would overweight housing in the basket.
  - deleted 3y ago
    [deleted]
- chiefalchemist 3y ago
  Perhaps over the small window, but still lagging over the longer. So ultimately using the shorter window is data cherry-picking. Yes, the iPhone has a definitive start so the window makes sense, but keep in mind citizens / workers / taxpayers / consumers were plenty behind inflation at that point. Anecdotally, I don't think I know anyone who believes they're ahead of inflation.
  - randomdata 3y ago
    Wages have grown pretty consistently above inflation since around the year 2000. There was a period in the 80s where wages fell behind inflation, but that has long been made up for and then some. > Anecdotally, I don't think I know anyone who believes they're ahead of inflation. That's the human condition, though, isn't it? Always thinking it needs more.
deleted 3y ago
[deleted]