These stats don’t seem to account for the working poor somehow? Those who struggle paycheck to paycheck working full time or more, with no savings and expecting to rely on charity when finally unable to work. And no, it’s not just a US thing, it happens in Europe, too, let alone in the “developing world”.
I think the vast majority of the working poors earnings go towards paying rent, then utilities, both of which are industries which haven’t scaled up. Even people on minimum wage can afford a lot of goods with an hour’s wages, so long as they pick the cheaper stuff and shop around a bit. Far more than I imagine people could afford a hundred years ago.
I’d guess it’s overabundance of working-class workers relative to the need. But recently I’m seeing claims that the elite are overabundant: for example, there aren’t enough elite slots for the next generation, so Harvard’s acceptance rate has gone from 30-odd% to around 1%; and would-be middle-class young people are having to stay with mom and dad to save on rent while working long hours. How can there be an oversupply of all different classes of workers? If it’s that automation makes us all way too efficient, shouldn’t that make us rich and leisured rather than overworked and desperate?
As a literal answer to your question: the stats do account for the working poor, but the working poor are a pretty small part of population as a whole and so don’t skew the statistics as much as you apparently think.
These stats don’t seem to account for the working poor somehow? Those who struggle paycheck to paycheck working full time or more, with no savings and expecting to rely on charity when finally unable to work. And no, it’s not just a US thing, it happens in Europe, too, let alone in the “developing world”.
I think the vast majority of the working poors earnings go towards paying rent, then utilities, both of which are industries which haven’t scaled up. Even people on minimum wage can afford a lot of goods with an hour’s wages, so long as they pick the cheaper stuff and shop around a bit. Far more than I imagine people could afford a hundred years ago.
I’d guess it’s overabundance of working-class workers relative to the need. But recently I’m seeing claims that the elite are overabundant: for example, there aren’t enough elite slots for the next generation, so Harvard’s acceptance rate has gone from 30-odd% to around 1%; and would-be middle-class young people are having to stay with mom and dad to save on rent while working long hours. How can there be an oversupply of all different classes of workers? If it’s that automation makes us all way too efficient, shouldn’t that make us rich and leisured rather than overworked and desperate?
As a literal answer to your question: the stats do account for the working poor, but the working poor are a pretty small part of population as a whole and so don’t skew the statistics as much as you apparently think.