MSNBC News: Wages have dropped and won't catch up until 2021!

Wages have dropped and won't catch up until 2021
MSNBC News
October 14, 2011

Our income has fallen since the new millennium began and it isn't expected to catch up until 2021, according to a Wall Street Journal survey of economists' forecasts.

And in bad news for students, not even a college degree is going to help much, some of the 50 economists surveyed believe. Only people with advanced degrees will see any meaningful increase in their standard of living.

The current generation of college graduates will only see a higher standard of living if "they get graduate degrees and are willing to give up a lot of free time," Diane Swonk of Mesirow Financial told the Wall Street Journal.

The good news is that most of the economists surveyed think the current generation of college grads will have a better standard of living than their parents. But more than a third think the opposite.

http://bottomline.msnbc.msn.com/_news/2011/10/14/8320576-wages-have-dropped-and-wont-catch-up-until-2021


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Bleak News for Americans' Income
Pay Fell 7% in Last Decade and Economists Say It Won't Catch Up Before 2021; Even College Graduates See Salaries Slide
BY PHIL IZZO
October 14, 2011

Americans' incomes have dropped since 2000 and they aren't expected to make up the lost ground before 2021, according to economists in the latest Wall Street Journal forecasting survey.

From 2000 to 2010, median income in the U.S. declined 7% after adjusting for inflation, according to Census data. That marks the worst 10-year performance in records going back to 1967. On average, the economists expect inflation-adjusted incomes to rise over the next decade, but the 5% projected gain isn't enough to reach prerecession levels.

"Standards of living in the U.S. will continue to decline as we deleverage and emerging markets ...

http://online.wsj.com/article/SB10001424052970204774604576628981208827422.html?mod=WSJ_hps_sections_news

which doesn't seem to be happening.

but not for the 1% I bet.

Starting to see even the die-hard repugs around me waking up. They start to spew rhetoric and then suddenly run out of steam, walking away in silence. It's a start.

At least it will fall to the average of the economically developed countries, which will soon include most major European, East Asian, Southeast Asian, and South American countries.

Eastern Europe, Russia, China, India, Brazil, Turkey, South Africa, Argentia, Indonesia are all going up, IIRC.

Western Europe, US, Japan are the main ones going down.

THE GOP! THANKS ASSHOLES FOR FUCKING OVER ANOTHER GENERATION OF CHILDREN. MAY YOU ALL ROT IN HELL.

are enjoying huge profits!!!!