Part 9/12:
As we delve deeper into the systemic problems of today’s labor market, the economic landscape has shifted dramatically. Despite an 80% surge in productivity from 1979 to 2024, wages have only increased by 29.4%, reflecting a failure of economic growth to translate into real income for workers. The stagnation of wages, alongside rising costs of living, has generated an environment where financial stability remains elusive for many.
The subsequent generations—particularly baby boomers and Generation X—have witnessed declining purchasing power, making the prospect of economic mobility appear increasingly unattainable. Compounding these issues, Americans often feel pressured to engage in soul-crushing jobs for little pay, leading to feelings of resentment and disconnection from their work.