Inflation and wage increases

DUM1 · December 21, 2021, 03:48 PM

i show my bosses my pay stubs from 1988 , when i got in to the biz,,, $15.00 an hour and $2500.00 quarterly bonuses ..
and tell them about the good ole days , when the trade ment something if you knew how to do your job and got shit done .
now everybody makes the same shit low wages and doesn't give a shit about the quality or getting the job done .

neurosis · December 21, 2021, 06:33 PM

lol. I was making 4 bucks an hour in 1986. I was cleaning machines at that time though.

CNCAppsJames · December 22, 2021, 12:00 AM

My first "work at a place" job not cleaning horse stalls was at a home medical supply company. I was receiving, stocking and delivery. On occasion I'd work the cash register. It was 1988. I was a sophomore in high school and I was making $3.35/hr.

18 year old me could never in a million years see 52 year me's life. Not even f'n fathom it. ESPECIALLY after being told in my sophomore year by a teacher that I'll "... never amount to a hill of shit.". Kinda gives a different perspective on your lot in life. Where else can you go from addiction and there but up? There was only one other step down, and that step is in the ground so...

Us in here, we can ALL earn more money. The question is are we willing to do whatever it takes to get "there"? .. wherever that is?

Del. · December 22, 2021, 04:15 AM

In 1985 I was making $13.78 an hour in the coal mines.

In 1986 I was making $4.00 an hour in the Tool and Die trade.

mkd · December 22, 2021, 05:04 AM

MAN! you guys are OLD!!!!!!!!

mkd · December 22, 2021, 05:05 AM

Quote from: Del. post_id=20072 time=1640110922 user_id=113I got a $1/hr raise last month and am semi retired. I was stunned.

So, what you're saying is; you're higher than ever?

?

HTM01 · December 22, 2021, 05:29 AM

1978 mold maker trainee $4.35
$4.50 after 3 month probation

gcode · December 22, 2021, 05:51 AM

1973.. Minimum wage, drill press operator $1.05/hour
My 40 hour paycheck after taxes and such was $28/week

Bullseye_Gotcha · December 22, 2021, 06:28 AM

I try to explain inflation like this.

Years ago I was on various committees for Waterfowl USA, Duck's Unlimited and Pheasants Forever. Several times a year we held extravagant dinners with hundreds of raffles (guns, duck boats, gear, gun safes, freezers, etc...)
Selling raffle tickets was like this. We would offer 20 tickets for $10. Or you could get 50 tickets for $20 or 100 tickets for $30.
Sounded like a great deal... 50 cents a ticket, 40 cents a ticket, or 30 cents a ticket.

There was no deal. Once the 30 cent a ticket is offered it devalued the previous offers.
The raffle buckets would get filled by the same tickets watering down one's chance regardless of purchase price.

That is basically how inflation works if the market is being flooded by printed money.

Inflation in it's simplest form is higher demand against low supply.

Where are we now?

The remedy for inflation is a debate topic. Hayek and Keynes.
Hayek believed in balanced budgets, regulation and no life support from government basically letting the market correct itself.
Keynes on the other hand... believed in deficit spending and artificially low interest rates increasing money into the system to increase supply output.

BrianP. · December 22, 2021, 07:23 AM

Quote from: mkd post_id=20114 time=1640178250 user_id=155MAN! you guys are OLD!!!!!!!!

And I was thinking what a bunch of puppies.

BrianP. · December 22, 2021, 07:26 AM

I gave up a raise this year for another week of vacation. 4 weeks of vacation with 1 week of sick/ personal pay. Time off at this point is way more valuable. I'll just adjust my spending if needed but we are not extravagant people anyways.

neurosis · December 22, 2021, 07:43 AM

Quote from: BrianP. post_id=20127 time=1640186808 user_id=71I gave up a raise this year for another week of vacation. 4 weeks of vacation with 1 week of sick/ personal pay. Time off at this point is way more valuable. I'll just adjust my spending if needed but we are not extravagant people anyways.

Funny how our priorities change as we get older.

You start to realize that personal time with family and friends is more important than material b/s.

Every so often we get a slap in the face at how short our time is in this place.

crazy^millman · December 22, 2021, 08:20 AM

Quote from: neurosis post_id=20128 time=1640187802 user_id=49
Quote from: BrianP. post_id=20127 time=1640186808 user_id=71I gave up a raise this year for another week of vacation. 4 weeks of vacation with 1 week of sick/ personal pay. Time off at this point is way more valuable. I'll just adjust my spending if needed but we are not extravagant people anyways.

Funny how our priorities change as we get older.

You start to realize that personal time with family and friends is more important than material b/s.

Every so often we get a slap in the face at how short our time is in this place.

I could make double if not triple what I make working for my own company as a consultant, but being home and spending time with my family is worth way more. Wife needs me to help her this morning going grocery shopping. No problem let me know the time and we can go. Imagine going asking any employer for time off to do that?

neurosis · December 22, 2021, 08:39 AM

Quote from: crazy^millman post_id=20130 time=1640190028 user_id=152I could make double if not triple what I make working for my own company as a consultant, but being home and spending time with my family is worth way more. Wife needs me to help her this morning going grocery shopping. No problem let me know the time and we can go. Imagine going asking any employer for time off to do that?

:_thumbup: :_thumbup: :_thumbup: :_thumbup:

I wish I could talk the owner of our company in to getting you in there for about a month.. LOL.

He's a 3rd gen family shop owner and is doing everything that you would expect the third gen owner to do.

I'm sure that arrogance and ego would probably get in the way of that ever happening.