Quartz·2 min read·medium
The 'boomcession' is here. GDP is up and your paycheck is shrinking
✦AI Summary
The 'boomcession' describes a current economic paradox where GDP and stock markets are rising while individual paychecks lose value against inflation. This trend suggests that official economic data may be failing to capture the financial struggles of the average worker.
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
economybusiness
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