Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

xchrom

(108,903 posts)
Sat Nov 17, 2012, 07:30 AM Nov 2012

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.
17 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Economists: US Wages Stagnant for Over a Decade (Original Post) xchrom Nov 2012 OP
During a 10 year period (2000-2010) . . . HughBeaumont Nov 2012 #1
You did better than many others. Congratulations nt LARED Nov 2012 #2
+1 - you'd think people would be angry about that when xchrom Nov 2012 #4
Better than me. progressoid Nov 2012 #15
It was a political decision by our politicians that this should be so Fumesucker Nov 2012 #3
indeed. nt xchrom Nov 2012 #5
well no shit kevin.... madrchsod Nov 2012 #6
knowledge is power pipewrench Nov 2012 #7
+1 xchrom Nov 2012 #8
Meanwhile, CEO pay spiked 725% between 1978 and 2011... ReallyIAmAnOptimist Nov 2012 #9
Yep. Sickening. progressoid Nov 2012 #14
"SUCCESS PUNISHER!!!" . . . . or something . . . . HughBeaumont Nov 2012 #16
Communist socialist buddhist. Barack_America Nov 2012 #17
More than a decade indeed Orrex Nov 2012 #10
K&R for future reference. JDPriestly Nov 2012 #11
Gee, people are finally realizing this???? HuskiesHowls Nov 2012 #12
When the S**t hit the fan in 2008 Zoonart Nov 2012 #13

HughBeaumont

(24,461 posts)
1. During a 10 year period (2000-2010) . . .
Sat Nov 17, 2012, 07:37 AM
Nov 2012

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?

xchrom

(108,903 posts)
4. +1 - you'd think people would be angry about that when
Sat Nov 17, 2012, 08:00 AM
Nov 2012

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

progressoid

(49,999 posts)
15. Better than me.
Sat Nov 17, 2012, 02:56 PM
Nov 2012

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)
3. It was a political decision by our politicians that this should be so
Sat Nov 17, 2012, 08:00 AM
Nov 2012

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

Orrex

(63,225 posts)
10. More than a decade indeed
Sat Nov 17, 2012, 10:01 AM
Nov 2012

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.

HuskiesHowls

(711 posts)
12. Gee, people are finally realizing this????
Sat Nov 17, 2012, 10:13 AM
Nov 2012

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)
13. When the S**t hit the fan in 2008
Sat Nov 17, 2012, 10:26 AM
Nov 2012

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.

Latest Discussions»General Discussion»Economists: US Wages Stag...