Wages

Between July of 2024 and July of 2024 wages increased by 4.2% and inflation was 2.7%. This resulted in a real wage increase of $141 per month for the average worker. The average wage today is $60,000 and if that continues in ten years the real wage will increase to $70,000. As long as the inflation rate is less than the increase in wages the average person feels like they are getting ahead. This will be especially important over the coming years as manufacturing jobs come back to the US. This means the companies will have to pay higher wages to make things here in the US. The average pay for places like Walmart and McDonalds is $18 while the average pay in an auto manufacturing plant is $28. Adding manufacturing jobs will add upward wage pressure and this puts upward pressure on inflation. One thing that can help increase wages is the increase in productivity expected from the new manufacturing facilities which will use the latest technology helped along by AI.