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hschulein

(1,168 posts) Thu Oct 22, 2015, 10:35 PM Oct 2015

Mike Malloy - 51 % Of All American Workers Make Less Than 30,000 Dollars A Year

We just got more evidence that the middle class in America is dying. According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let that number sink in for a moment. You can’t support a middle class family in America today on just $2,500 a month – especially after taxes are taken out. And yet more than half of all workers in this country make less than that each month. In order to have a thriving middle class, you have got to have an economy that produces lots of middle class jobs, and that simply is not happening in America today.

Full story: http://www.washingtonsblog.com/2015/10/goodbye-middle-class-51-percent-of-all-american-workers-make-less-than-30000-dollars-a-year.html

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Mike Malloy - 51 % Of All American Workers Make Less Than 30,000 Dollars A Year (Original Post) hschulein Oct 2015 OP

They used to say the typical family pulled in 40k.... Spitfire of ATJ Oct 2015 #1

Here's another page from the same report - median net compensation compared to average progree Oct 2015 #2

Message auto-removed Name removed Oct 2015 #3

KnR for visibility. nt tblue37 Oct 2015 #4

Depressing and shameful Iwillnevergiveup Oct 2015 #5

Spitfire of ATJ

(32,723 posts)

1. They used to say the typical family pulled in 40k....

Reply to hschulein (Original post)

Thu Oct 22, 2015, 10:48 PM

Oct 2015

They didn't mention that's with two or three or even four incomes.

I know someone in their 60s who can't wait for their Social Security to kick in so they can retire with a RAISE.

progree

(10,890 posts)

2. Here's another page from the same report - median net compensation compared to average

Reply to hschulein (Original post)

Fri Oct 23, 2015, 01:26 AM

Oct 2015

Last edited Fri Oct 23, 2015, 03:01 AM - Edit history (2)

net compensation.

http://www.ssa.gov/oact/cola/central.html

And be sure to scroll to the bottom to see the graph - where the ratio of median to the average is falling and falling (one indicator of growing inequality)

These are not inflation-adjusted numbers. It would be very interesting to see an inflation-adjusted version.

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Here is another look at median earnings - from the Bureau of Labor Statistics
Full Time, wage and salary workers, age 16+, seasonally adjusted

#Median usual weekly earnings - in current dollars (i.e. NOT inflation-adjusted): http://data.bls.gov/timeseries/LES1252881500

# Median usual weekly earnings - in constant (1982-84) dollars (i.e. inflation-adjusted): http://data.bls.gov/timeseries/LES1252881600

The series begins in 1979, so can't go back any further:

The big jump around 2009, I would guess, is the result of "last hired, first fired" during the financial crash. And the decrease since that peak is due to bringing on new workers at lower wages.