pull down to refresh

Education costs have also increased dramatically. I’d be curious to see how much wages have increased, net education expenses.
reply
It's "real" so it already takes that into account. The basket of goods and services may differ from person to person ofc.
reply
No, it doesn't. "Real" means adjusted for CPI, which has a bunch of factors.
Education costs are rising much faster than CPI, so deflating by CPI gives an overestimate of wage increase net education expense.
Also, if wages are higher because people spend more time in school, all of those foregone earnings are missed, because you don't count as a zero in the wage calculation while you're not working.
reply