> How do you square these “growing wages” against the zeitgeist which says more and more people are living hand-to-mouth?
Both can be true if the distribution has changed, which seems to be the case:
"Over the last four decades, the income gap between more- and less-educated workers has grown significantly; the study finds that automation accounts for more than half of that increase."
Additionally, necessities like food and fuel seem to have jumped in price, outpacing wage growth over the past few years, while other important goods and services (housing, health care, higher education) have outpaced inflation for decades.
Both can be true if the distribution has changed, which seems to be the case:
"Over the last four decades, the income gap between more- and less-educated workers has grown significantly; the study finds that automation accounts for more than half of that increase."
https://news.mit.edu/2022/automation-drives-income-inequalit...
Additionally, necessities like food and fuel seem to have jumped in price, outpacing wage growth over the past few years, while other important goods and services (housing, health care, higher education) have outpaced inflation for decades.