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Sat Nov 17, 2012, 06:30 AM

Economists: US Wages Stagnant for Over a Decade

http://www.commondreams.org/headline/2012/11/16-6


Wages for median working-age men have decreased 4 percent since 1970. (Photo by Official U.S. Navy Imagery via Flickr)

As wages remain stagnant since 2002, the past ten years have been effectively been a "lost decade for workers," says writer Kevin G. Hall.

Despite adequate coverage of the rise and fall of employment rates, little has been said about the actual rate of earnings, which—after adjusting for inflation—have reportedly declined across most industries and sectors since the Great Recession.

"Equally troubling," Hall writes in the McClatchy report, is that "real wages are now about the same level as they were in December 2005."

According to researchers at the Brookings Institute's Hamilton Project, the median working-age man with a job earns about 4 percent less, when adjusted for inflation, than he did in 1970.

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Arrow 17 replies Author Time Post
Reply Economists: US Wages Stagnant for Over a Decade (Original post)
xchrom Nov 2012 OP
HughBeaumont Nov 2012 #1
LARED Nov 2012 #2
xchrom Nov 2012 #4
progressoid Nov 2012 #15
Fumesucker Nov 2012 #3
xchrom Nov 2012 #5
madrchsod Nov 2012 #6
pipewrench Nov 2012 #7
xchrom Nov 2012 #8
ReallyIAmAnOptimist Nov 2012 #9
progressoid Nov 2012 #14
HughBeaumont Nov 2012 #16
Barack_America Nov 2012 #17
Orrex Nov 2012 #10
JDPriestly Nov 2012 #11
HuskiesHowls Nov 2012 #12
Zoonart Nov 2012 #13

Response to xchrom (Original post)

Sat Nov 17, 2012, 06:37 AM

1. During a 10 year period (2000-2010) . . .

I did a real-dollar calculation on how much my salary actually rose.

$300. IN TEN YEARS. Meaning, my yearly salary in inflation-adjusted dollars has only increased $300 in that amount of time.

You know what's even worse than that?

In America, I'm considered "LUCKY".

THIS is our lot in life? THIS is what we've been handed?

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Response to HughBeaumont (Reply #1)

Sat Nov 17, 2012, 07:00 AM

2. You did better than many others. Congratulations nt

 

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Response to HughBeaumont (Reply #1)

Sat Nov 17, 2012, 07:00 AM

4. +1 - you'd think people would be angry about that when

they think about what they're making compared to what the 1% makes.

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Response to HughBeaumont (Reply #1)

Sat Nov 17, 2012, 01:56 PM

15. Better than me.

I hate looking at old invoices. I have to charge less today than I did a decade ago or I won't get the job.

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Response to xchrom (Original post)

Sat Nov 17, 2012, 07:00 AM

3. It was a political decision by our politicians that this should be so

It's not for lack of trying on the part of the workers.

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Response to Fumesucker (Reply #3)

Sat Nov 17, 2012, 07:01 AM

5. indeed. nt

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Response to xchrom (Original post)

Sat Nov 17, 2012, 07:09 AM

6. well no shit kevin....

any one with a functioning thought process knows that.

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Response to pipewrench (Reply #7)

Sat Nov 17, 2012, 08:43 AM

8. +1

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Response to xchrom (Original post)

Sat Nov 17, 2012, 08:48 AM

9. Meanwhile, CEO pay spiked 725% between 1978 and 2011...

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Response to ReallyIAmAnOptimist (Reply #9)

Sat Nov 17, 2012, 01:54 PM

14. Yep. Sickening.

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Response to ReallyIAmAnOptimist (Reply #9)

Sat Nov 17, 2012, 04:49 PM

16. "SUCCESS PUNISHER!!!" . . . . or something . . . .

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Response to HughBeaumont (Reply #16)

Sat Nov 17, 2012, 04:51 PM

17. Communist socialist buddhist.

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Response to xchrom (Original post)

Sat Nov 17, 2012, 09:01 AM

10. More than a decade indeed

During a period of unployment in 2009 I applied for a manufacturing job that paid $9.50 per hour. When I mentioned the job to an older friend, he revealed that he worked the same job for the same company in 1978 but made $9.75 per hour.

That's not adjusted dollars, either.

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Response to xchrom (Original post)

Sat Nov 17, 2012, 09:03 AM

11. K&R for future reference.

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Response to xchrom (Original post)

Sat Nov 17, 2012, 09:13 AM

12. Gee, people are finally realizing this????

I've known it for years!! In 1987, I could afford to spend money on things to make life "nice". Now, if it isn't a necessity (food, car repair, medical) there is no money for it.

In other words--I used to help support a growing economy. Now I just survive.

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Response to xchrom (Original post)

Sat Nov 17, 2012, 09:26 AM

13. When the S**t hit the fan in 2008

Two weeks after the bubble collapsed in 2008 my husband was called in and told he could keep his job only if he took a one third cut in salary... Take it or leave it. Given the job market and his age ... he took it. almost five years later... not a penny of raise. We are hanging on by our fingernails.

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