07-27-2018, 11:26 AM
(07-27-2018, 09:52 AM)Beaker Wrote: Throughout my life I don't know anyone who hasn't gotten pay raises if they were a decent employee and stayed on the job for a reasonable amount of time.
Who cares about the people you know? The facts are the facts. Overall middle and lower class workers are being more productive and their wages are not increasing.
According to the BLS, the average hourly wage for non-management private-sector workers last month was $20.67, But after adjusting for inflation, today’s average hourly wage has just about the same purchasing power as it did in 1979, In fact, in real terms the average wage peaked more than 40 years ago: The $4.03-an-hour rate recorded in January 1973 has the same purchasing power as $22.41 would today.
What gains have been made, have gone to the upper income brackets. Since 2000, usual weekly wages have fallen 3.7% (in real terms) among workers in the lowest tenth of the earnings distribution, and 3% among the lowest quarter. But among people near the top of the distribution, real wages have risen 9.7%.
http://www.pewresearch.org/fact-tank/2014/10/09/for-most-workers-real-wages-have-barely-budged-for-decades/
In between 1978 and 2014, inflation-adjusted CEO pay increased by almost 1,000%, according to a report by the Economic Polcit Institute. Meanwhile, typical workers in the U.S. saw a pay raise of just 11% during that same period.
The ratio between average American CEO pay and worker pay is now 303-to-1. This ratio is lower than its peak in 2000, when it was 376-to-1, but it’s in excess of the 1965 ratio of 20-to 1.
