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> Workers' pay rates have barely risen over the last 40 years, while the C-suite have risen by hundreds of percentage points. Any citation? In the past 10 yea
by YetAnotherNick 5y ago
> Workers' pay rates have barely risen over the last 40 years, while the C-suite have risen by hundreds of percentage points.
Any citation?
In the past 10 years bottom 50% wealth rose by more than 10 times and median household income increased by 40%.
[1]: https://fred.stlouisfed.org/series/WFRBLB50107 https://fred.stlouisfed.org/series/WFRBLB50107
[2]: https://fred.stlouisfed.org/series/MEHOINUSA646N https://fred.stlouisfed.org/series/MEHOINUSA646N
- Retric 5y agoIt’s called inflation. A nominal increase of $22,415 (1984) to $68,703 (2019), looks great, even though it’s stopping right before 2020. Except $22,415.00 in 1984 is worth $55,154.49 in 2019. https://www.usinflationcalculator.com/ https://www.usinflationcalculator.com/ So the actual increase was 24.6% over 35 years assuming 2019 wasn’t some outlying peak and 1984 wasn’t an unusually bad year. We can check 1984 by going another 20 years to 1964 and the median household income was 6,600 which is $54,430.20 in 2019 or an increase of 26.2% in 55 years. Can’t prove 2019 is also an outlier, but that “40%” increase in 10 years suggests it likely is. https://www.census.gov/library/publications/1965/demo/p60-047.html https://www.census.gov/library/publications/1965/demo/p60-04... PS: And yes end years matter. Inflation adjusted median household income increased form 1964 to 2009 by 6.6% in 45 years. Perhaps things have fundamentally changed in the last 10 years, but it’s not likely.
- eru 5y agoCompare https://slatestarcodex.com/2019/02/25/wage-stagnation-much-more-than-you-wanted-to-know/ https://slatestarcodex.com/2019/02/25/wage-stagnation-much-m...