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That is not hourly earnings. Americans are working longer than they did in 1970. On top of that even if we take your link at face value that's a 0.35% growth p
by noosphr 7mo ago
That is not hourly earnings. Americans are working longer than they did in 1970.
On top of that even if we take your link at face value that's a 0.35% growth per year. The medieval warm period had faster wage growth.
- JumpCrisscross 7mo ago> That is not hourly earnings Hourly earnings (nominal) have grown at 3.2% per year between 2006 and 2025 [1]. Inflation in that interval was 2.7% [2]. > Americans are working longer than they did in 1970 Source? These data show hours worked are down [3]. [1] https://fred.stlouisfed.org/series/CES0500000003 https://fred.stlouisfed.org/series/CES0500000003 [2] https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1&year1=200601&year2=202602 https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=1&year1=200601... [3] https://fred.stlouisfed.org/graph/?g=18H2H https://fred.stlouisfed.org/graph/?g=18H2H
- noosphr 7mo agoIf you look very carefully you can notice that 2006 is not 1970. >Source? These data show hours worked are down [3]. https://www.stlouisfed.org/on-the-economy/2018/october/how-hours-americans-work-compare-rest-world https://www.stlouisfed.org/on-the-economy/2018/october/how-h...
- JumpCrisscross 7mo agoDo you have the underlying data? I’m curious if per capita is being averaged across whole population or workers. If the former, that seems to penalize younger-aged countries.
- deleted 7mo ago[deleted]
- dangus 7mo agoAnd let’s not forget that single income households converted to dual income households, from 47% to 66% of married couples. https://taxfoundation.org/data/all/federal/america-has-become-nation-dual-income-working-couples/ https://taxfoundation.org/data/all/federal/america-has-becom... (Not my favorite think tank but they have a nice chart.)
- JumpCrisscross 7mo agoThe real-wage data above aren’t household statistics.
- deleted 7mo ago[deleted]