r/SipsTea • u/Icy-Book2999 Fave frog is a swing nose frog • 5d ago

1980 Minimum Wage vs 2024 College Graduate Wait a damn minute!

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From https://youtube.com/shorts/zYp0YVc0c-E?si=ARuvJZuxcYXP6sF1

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u/idkwutimd0ing 4d ago

Can anyone confirm this is true?

5

u/Jyil 4d ago edited 4d ago

He stated the price of that apartment he’s in now $243. In today’s value that’s $972. Then he uses average rent, which is $1500 - not $1750. He’s off a few hundred for average rent.

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u/[deleted] 4d ago

[deleted]

2

u/Jyil 4d ago edited 4d ago

His numbers for the average rent cost are off a few hundred. He says “this apartment”, but he’s actually using the numbers for average rent in 1980, but not the actual numbers for it in 2024.

2

u/Dependent_Ant_8316 4d ago

A while back I ran thru some numbers and the largest increase was very shocking….it was the cost of water (rates) just from 2011-2023 was around 120%