Over time, the purchasing power of workers has declined steadily. This is especially apparent when looking at the cost of necessary goods and services in terms of how many hours of work it would take to afford them. For example, most people would have to work far longer now to afford two weeks' worth of groceries than they would have needed to when they first started working. The same is true for bigger-ticket items like cars and TVs. This decline in purchasing power is likely due to the fact that jobs have become increasingly scarce.
Over time, the purchasing power of workers has declined steadily. This is especially apparent when looking at the cost of necessary goods and services in terms of how many hours of work it would take to afford them. For example, most people would have to work far longer now to afford two weeks' worth of groceries than they would have needed to when they first started working. The same is true for bigger-ticket items like cars and TVs. This decline in purchasing power is likely due to the fact that jobs have become increasingly scarce.
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