| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
29 Aug 2006 05:33:42 PM |
| Object: |
The continuing decline of real wages |
From The New York Times, 8/28/06:
http://www.nytimes.com/2006/08/28/business/28wages.html?_r=1&adxnnl=1&oref=slogin&ref=todayspaper&adxnnlx=1156796907-rGCLiLqjVUnQ6Mf65q+fWg
Real Wages Fail to Match a Rise in Productivity
By STEVEN GREENHOUSE and DAVID LEONHARDT
With the economy beginning to slow, the current expansion has a chance
to become the first sustained period of economic growth since World
War II that fails to offer a prolonged increase in real wages for most
workers.
Chart: Not Sharing in the Gains
http://graphics8.nytimes.com/images/2006/08/28/business/28wages_chart.jpg
That situation is adding to fears among Republicans that the economy
will hurt vulnerable incumbents in this year’s midterm elections even
though overall growth has been healthy for much of the last five
years.
The median hourly wage for American workers has declined 2 percent
since 2003, after factoring in inflation.
The drop has been especially notable, economists say, because
productivity -- the amount that an average worker produces in an hour
and the basic wellspring of a nation’s living standards -- has risen
steadily over the same period.
As a result, wages and salaries now make up the lowest share of the
nation’s gross domestic product since the government began recording
the data in 1947, while corporate profits have climbed to their
highest share since the 1960’s.
________________________________________________________
Harry
.
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| User: "NeoLibertarian" |
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| Title: Re: The continuing decline of real wages |
29 Aug 2006 10:00:33 PM |
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Harry Hope wrote:
From The New York Times,
The only fair thing is for Congress to pass the $150.00 / hour minimum
wage.
--
NeoLibertarian
.
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