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A large reason why wages have essentially "stagnated" is because the workforce has doubled with the advent of women entering the workforce. Laws of Supply and D
by DiffEq 7y ago
A large reason why wages have essentially "stagnated" is because the workforce has doubled with the advent of women entering the workforce. Laws of Supply and Demand say that wages should go down...it is to be expected. This is why for many a two income household is now necessary for a family these days.
- dane-pgp 7y agoUnfortunately it's more complicated than that: https://ourworldindata.org/uploads/2017/08/Labor-Force-Participation-of-women-in-the-US-1955-2005.png https://ourworldindata.org/uploads/2017/08/Labor-Force-Parti... While the employment rate for "Married women, spouse present" doubled from 1955 to 1990 (which may be what you're referring to), the rate for "All women" between 1985 and 2005 went from 55% to 60% (and falling).
- DiffEq 7y agoYes I was referring to that statistic; but I think it it more representative of the cause of wage stagnation. We had a flood of people come into the workforce in a few decades that were not there previously. Although the statistic that you provided is interesting...I think maybe we should not be looking at ALL women? I say this because many women may be in school still or retired and don't want/need to work.