Europeans can’t afford the US anymore, according to French magazine
US incomes and wealth apparently are blowing past Europe.
And it’s not just the rich: “Is rich America, only for the rich? Less so than at the beginning of the century…… Everything changed at the end of Obama's terms and accelerated thereafter. Full employment forced companies to raise wages – Amazon set its minimum hourly wage at $15 as of November 2018 – and the Covid-19-related crisis accelerated the phenomenon with the 'great resignation" forcing the service sector to re-evaluate salaries. As a result, from 2015 to early 2023, the lowest wage quintile systematically increased more than the others, as the tracker from the Federal Reserve Bank of Atlanta in Georgia shows.”
In the past, my company would never hire people in the UK or Europe because their cost was considered too high. But now we are looking to outsource things to London (!) and other parts of what were traditionally thought of as Expensive Europe because the costs are so much lower relative to the costs of American workers.
I will try to put a free version of this article below for the Europeans, who cannot afford a subscription to Le Monde (KIDDING!!!!)
| by Anonymous | reply 11 | September 17, 2024 5:56 PM
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I believe it. I moved to Italy. I guess I would have been considered upper middle class on average (350k a year combined salary), but definitely lower middle class in NYC. I felt like I was scraping by there. But when I look at the salaries of Italians on average, I never even bring up what I used to make. It sounds disgusting and it's embarrassing. I was in Rome and a lot of salaries for certain jobs are set by the government too. A Hotel Manager makes this much, a pharmacist makes this much, etc... But people are happy to take home $1700 a month. I had a sales job and some months I was taking home 10k in commissions in the States. I don't have that job anymore and I sometimes fantasize what my life would look like here with the money I used to make - we're talking boat trips around Capri. People here DO NOT MAKE MONEY. You have families of four and a very good job is 60k.75k a year. You could lead a very good life here on 80-100k a year very easily.
| by Anonymous | reply 2 | September 14, 2024 6:53 PM
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Americans can't afford the US any more.
| by Anonymous | reply 3 | September 14, 2024 7:15 PM
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Not sure what you mean by "Europeans can't afford the US any more."
For travel? To live? In what way can they not afford the US? They don't live in the US.
| by Anonymous | reply 4 | September 14, 2024 7:16 PM
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R5, that is the title of the article from the French magazine. You will have to read the article. I am not going to do your work for you.
| by Anonymous | reply 5 | September 14, 2024 7:41 PM
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R4, that is.
Yeah, I fucked up. And so did you
| by Anonymous | reply 6 | September 14, 2024 7:41 PM
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R2
Why do people lie in the era of AI?
No, $350,000 is not considered middle class in New York City, where the income range for middle class is $54,257 to $162,772:
Middle class income range
According to GOBankingRates, a household in New York is considered middle class if their annual income is between $54,257 and $162,772. This is based on the 2022 U.S. Census Bureau's American Community Survey, which defines middle class as two-thirds to double the median income.
Median income
In 2022, the median income in New York was $79,557, which was higher than the national median household income for that year.
Increase in income range
The middle class income range in New York has increased by about 41% over the last decade, from $38,455 to $115,366.
Cost of living
According to SmartAsset, New York City is one of the most expensive places to live comfortably as a single person, requiring an annual salary of $138,570.
| by Anonymous | reply 7 | September 14, 2024 7:52 PM
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Qualify of life still better in Europe. New research.
[quote]The researchers selected 54 cities to explore in detail and found that the most accessible cities were midsize European ones such as Zurich, Milan, Copenhagen and Dublin – all of which had essential services that could be accessed within 15 minutes by more than 95% of residents. At the bottom of the rankings were sprawling North American cities with a high dependency on cars, such as San Antonio, Dallas, Atlanta and Detroit.
| by Anonymous | reply 8 | September 17, 2024 4:22 PM
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I get so tired hearing about sprawling American cities, some of us don't want to live like in New York Europe, packed on top of each other, it can't be good either, hey COVID. America is EMPTY, forget the European rat in tunnels, this ain't Europe bitch.
| by Anonymous | reply 9 | September 17, 2024 5:29 PM
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[quote]I guess I would have been considered upper middle class on average (350k a year combined salary), but definitely lower middle class in NYC.
I love completely delusional quotes like this.
| by Anonymous | reply 10 | September 17, 2024 5:36 PM
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People live in THIER own bubble, 350k?
| by Anonymous | reply 11 | September 17, 2024 5:56 PM
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