Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
For most U.S. workers, real wages have barely budged in decades
August 7, 2018
...wage gains have gone largely to the highest earners. Since 2000, usual weekly wages have risen 3% (in real terms) among workers in the lowest tenth of the earnings distribution and 4.3% among the lowest quarter. But among people in the top tenth of the distribution, real wages have risen a cumulative 15.7%, to $2,112 a week – nearly five times the usual weekly earnings of the bottom tenth ($426).
Other factors that have been suggested include the continuing decline of labor unions; lagging educational attainment relative to other countries; noncompete clauses and other restrictions on job-switching; a large pool of potential workers who are outside the formally defined labor force, neither employed nor seeking work; and broad employment declines in manufacturing and production sectors and a consequent shift toward job growth in low-wage industries.
Sluggish and uneven wage growth has been cited as a key factor behind widening income inequality in the United States. A recent Pew Research Center report, based on an analysis of household income data from the Census Bureau, found that in 2016 Americans in the top tenth of the income distribution earned 8.7 times as much as Americans in the bottom tenth ($109,578 versus $12,523). In 1970, when the analysis period began, the top tenth earned 6.9 times as much as the bottom tenth ($63,512 versus $9,212).
For doing what? Rallying? Tweeting? Vacationing? Show us how Trump raised wages. Come on, you can do it.
Reduced regulations allowed more businesses to be created. More businesses, consumer confidence ,tax cuts and an improved economy resulted in more hiring, which resulted in low unemployment. When businesses have to compete for employees, they offer higher wages.
Economy 101.
Thank you president Obama for saving the economy and pulling us out of a recession and creating 57 months in a row of economy growth.
Thank you president Trump for not passing any major legislation that messes with the economy to continue to allow the growth that has been going on for years before he took office to continue.
Your source states, "A tightening labor market is steadily pushing up wage growth. The jobs market is viewed as being close to or at full employment, with the unemployment rate at a near 49-year low of 3.7 percent."
How is Donald Trump responsible for a labor market that has been steadily tightening for 10 years?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
