OK, I went back and read the article. This bit jumped out at me:
Cat says her mother made $36,000 a year as an entry-level bank teller in 1980. Meanwhile, the average entry-level worker in America now makes $55,260 a year, according to her calculations. However, when adjusted for inflation the entry-level salary in 1982 — about $33,700 — was closer to $102,200 in today’s dollars.
$36k for a bank teller in 80 is utter nonsense. That is probably what a teller made in 80, expressed in 2023 Shiny-bux.
In 1980, I grossed $15,600 at the pump seal company, as a “Project Coordinator”, which is a fancy way of saying inside sales support, which used both my college level b-school and engineering training. According to the BLS calculator, that works out to $54,837 in April 2023. I didn’t feel rich in 80. Maybe part of the issue was the $15K income put me in a 30% marginal rate bracket, while mid $50s today puts a person in a 22% bracket. (for those scoring at home, the top marginal rate in 80 was 70% for a single person, while the top rate on earned income now is 37%, a 33 percentage point cut, vs an 8 percentage point cut for the working stiff)
The roughly $28K I made as a store manager at Radio shack in 88 (before the company made big, across the board, pay cuts for managers) works out to $70,490 now. Being a store manager, unlike the pump seal company job, did not require any sort of college education, though, when RS did attract a college graduate, they had tried to retain him. (marginal rate on $28K in 88 was 28%, marginal rate on $70K now is 35%.)
Do the young’uns now like to complain? Everyone likes to complain today. Entire political empires are built on complaints and hurt feelings.
Here’s a song written by a group of boomers.