Tldr: Influx of immigrants are helping keep inflation down and pad the numbers of the econony
Kinda mid article tho
I’m failing to understand what aspect the article presents as “padding.”
“The economy is doing amazing”
As long as you dont look at the commoners, anyways
FTA:
A Rising Tide Is Lifting Many Boats
The surge in employment has benefited many groups who either have historically been left behind in the labor market or were disproportionately affected by the pandemic.
In the key age group of 25-54, the percentage of Blacks working reached 77.7% in 2023, surpassing its previous high in 1999, while for Hispanics that number hit 77.9%, beating the prior high of 77.4% in 2019.
Women, meanwhile, have recovered the ground they lost during the pandemic, when many were forced to leave the labor force to care for children at home as schools closed or taking care of elderly parents. They also suffered disproportionately as traditional sources of hiring for women in the leisure and hospitality and health care sectors closed down.
I’m sorry, I don’t understand your comment about “the economy” as it relates to this article about the labor market. Are you suggesting that this article is misinformation? This is also meandering a bit, could you elaborate on what is “padded” in the article?
Are you this out of touch with whats happening on Main St USA?
All these statistics are meant to make execs and senators feel better about their exorbitant wealth. In reality, they mean nothing and do not show the reality of what most Americans are going through right now wrt inflation and stagnating wages.
FTA:
Wages Are Rising, Good for Workers, But Not So Much as to Fuel Inflation
Average hourly earnings grew at a 4.1% annual rate in March, down from 4.5% at the start of the year. With consumer inflation currently 3.2% annually, that means workers are seeing gains in real income.
“The reduced pace of wage gains will alleviate some concerns of reignited inflation driven in part by the strong labor market,” said Nick Bunker, director, North American research at Indeed. “And while it has slowed, wage growth remains faster than the pace of inflation, insulating workers from undue harm.”
It does not seem like you’re addressing what the article says about the labor market at all.
https://en.wikipedia.org/wiki/Motte-and-bailey_fallacy
The motte-and-bailey fallacy (named after the motte-and-bailey castle) is a form of argument and an informal fallacy where an arguer conflates two positions that share similarities, one modest and easy to defend (the “motte”) and one much more controversial and harder to defend (the “bailey”). The arguer advances the controversial position, but when challenged, insists that only the more modest position is being advanced. Upon retreating to the motte, the arguer can claim that the bailey has not been refuted (because the critic refused to attack the motte) or that the critic is unreasonable (by equating an attack on the bailey with an attack on the motte).
Also, for a third time, can you specifically, with reliable sources, identify the items you feel are “padded” in the article?
Let’s say you’re 30 and looking to buy a house;
If your wage was $50,000, and went up by 5% you now make $52,500
If a house cost $500,000 and went up by 3.1% it now costs %515,500
So over the last few months, there has been little difference in a person’s situation, not something that they’ll feel.
Now go back 4 years.
If your wage was $50,000 in 2020, and over 4 years increased by 15%
If a house was $300,000 in 2020, and over 4 years rose to $500,000
The minor rise in wages vs. inflation, over the last year is meaningless.
So you admit, contrary to what you said before, that wages aren’t stagnant. I see that in your opinion this is meaningless (I see no reliable sources included other than your personal opinion), however, the article, with data, directly refutes this notion that there is no meaningful movement in wages. Again, this is a motte and bailey argument.
Motte: vague assertions about the economy
Bailey: data in the article is “padded”
I don’t see anything informative or constructive about this conversation, especially considering you have abandoned defending your assertion that the numbers in the article are somehow “padded.”
https://www.merriam-webster.com/dictionary/pad
2: to expand or increase especially with needless, misleading, or fraudulent matter
I won’t be continuing this discussion with you.