2 ms·
I could be wrong, but it looks like that is comparing an aggregate/mean ('total productivity's) with a median ('typical wage'), which would paint a very innaccu
by BobbyJo 6y ago
I could be wrong, but it looks like that is comparing an aggregate/mean ('total productivity's) with a median ('typical wage'), which would paint a very innaccurate picture of what's happening.
Like, imagine everything stays the same, but a new class of extremely productive high paying jobs is invented, and grows to 10% of the workforce. This would have only a marginal effect on median wage but a huge effect on aggregate productivity. Nothing would change in any other industry (bread factories still have the same output and still pay the same) but it would make this stat look like like 'the rich are stealing our wage growth'.