Lee Duna@lemmy.nz to News@lemmy.worldEnglish · 7 months agoWhy Americans feel gloomy about the economy despite falling inflation and low unemploymentapnews.comexternal-linkmessage-square264fedilinkarrow-up1370arrow-down111
arrow-up1359arrow-down1external-linkWhy Americans feel gloomy about the economy despite falling inflation and low unemploymentapnews.comLee Duna@lemmy.nz to News@lemmy.worldEnglish · 7 months agomessage-square264fedilink
minus-squareIzzyScissor@lemmy.worldlinkfedilinkarrow-up72arrow-down1·7 months agoBecause those two metrics are meaningless for the average person. Inflation is trending down… After it skyrocketed and is still way above affordable ranges. Employment rates are high… But those jobs don’t pay living wages. Go check how much savings the average American has, check what an average doctor’s visit costs, and then maybe you’ll understand the gloom.
minus-squareMasterBlaster@lemmy.worldlinkfedilinkarrow-up2·7 months agoMedian figures are more accurate and scarier than average.
Because those two metrics are meaningless for the average person.
Inflation is trending down… After it skyrocketed and is still way above affordable ranges.
Employment rates are high… But those jobs don’t pay living wages.
Go check how much savings the average American has, check what an average doctor’s visit costs, and then maybe you’ll understand the gloom.
Median figures are more accurate and scarier than average.