General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEconomists: US Wages Stagnant for Over a Decade
http://www.commondreams.org/headline/2012/11/16-6Wages 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, whichafter adjusting for inflationhave 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.
HughBeaumont
(24,461 posts)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?
LARED
(11,735 posts)xchrom
(108,903 posts)they think about what they're making compared to what the 1% makes.
progressoid
(49,999 posts)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.
Fumesucker
(45,851 posts)It's not for lack of trying on the part of the workers.
xchrom
(108,903 posts)madrchsod
(58,162 posts)any one with a functioning thought process knows that.
pipewrench
(194 posts)Charts and more charts....
http://www.huffingtonpost.com/2012/09/01/middle-class-america-charts_n_1847211.html
ReallyIAmAnOptimist
(357 posts)progressoid
(49,999 posts)HughBeaumont
(24,461 posts)Barack_America
(28,876 posts)Orrex
(63,225 posts)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.
JDPriestly
(57,936 posts)HuskiesHowls
(711 posts)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.
Zoonart
(11,879 posts)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.