Comment by jandrewrogers
10 hours ago
Almost half of US households earn $100k+ now. The median American is affluent by European standards. The "middle class" of Europe and America has become less comparable over time because median incomes have significantly diverged. You see it in many aspects of lifestyle and the kinds of things they can afford to buy.
20 years ago this was not the case. The minimum wage in some parts of the US is now higher than the average wage in most of Europe.
The US has a population that will always struggle to survive without government assistance. Per multiple US statistical agencies that is about 10-15% of households.
>The minimum wage in some parts of the US is now higher than the average wage in most of Europe.
definitely not in Western Europe.
The minimum legal salary where I live will be >€80k in a couple months. The minimum hourly wage is equivalent to about €40k annualized. Does the average person in Western Europe earn €80k?
These types of minimum wages used to be limited to expensive locales but it is spreading across the US pretty rapidly. Now you see minimum wages rapidly approaching $20/hr in places far enough from a major city that houses still cost $250k.