It's Not Just Unemployment -- New Data Shows Working Americans' Pay Is "Awful"

[marmar]

It's Not Just Unemployment -- New Data Shows Working Americans' Pay Is "Awful"


This week, the Social Security Administration released data on U.S. payrolls, and found that while the average wage -- overall wage income divided by the number of working people -- was just under $40k, the median wage -- the one right in the middle of the pack -- was just $26,363. That's because so much income has been redistributed to workers at the top of the pile that almost two-thirds of Americans make less than that wage in the middle.

The brilliant David Cay Johnston has more:

That works out to $507 a week, the lowest level, after adjusting for inflation, since 1999.

The number of Americans with any work fell again last year, down by more than a half million from 2009 to less than 150.4 million...

Average pay peaked in 2007 at $40,764, which is $15 a week more than average weekly wage income in 2010.

The number of workers making $1 million or more rose to almost 94,000 from 78,000 in 2009. However, that was still below some earlier years, including 2007, when more than 110,000 workers made more than $1 million each.

At the very top, the number of workers making more than $50 million rose in 2010 to 81, up from 72 the year before.

When people talk about America's (and to a lesser degree the UK and Canada's) spiraling inequality, they usually refer to what's known as the Gini Coefficient (if you're the nerdy type, it's explained here). But there's another way of looking at it: you can compare the income right in the middle of the pack with the average income. ............(more)

The complete piece is at: http://www.alternet.org/newsandviews/article/684196/it%27s_not_just_unemployment_--_new_data_shows_working_americans%27_pay_is_%22awful%22/

[OHdem10]

1. Actually this is and has been "the plan". American Wages are

being harmonized downward so they are more in line
with the rest of the world. Globalization.

Remember when the American Auto Industry was being bailed
out. Part of the Union Contracts at that time: Salaries
were moved down so they are on par with the salaries paid
at foreign companies here, ie Honda, BMW Mercedes. This was
a great big cut.

The Republicans are moving aggressively in the states.
trying to make them Right To Work states. Getting rid
of unions makes it easier to lower wages.

When people are laid off, if they find a new job it is
a job which pays much less than their old job.

It is called the race to the bottom and the Republicans
in support of Business is pushing it right along.

Often when we hear Obama say, I will not accept that we
must have a race to the bottom. This is exactly what he
is fighting.

[diane in sf]

4. but they don't downsize the executive salaries that are even more out of harmony

with third world wages or with wage relationships in Europe and Japan.

[PETRUS]

2. K&R

[snot]

3. V. helpful; K&R'd!

[OHdem10]

5. Can you believe half of America earns 26,672 K and under

and the other half earns 26,672 and over.

Up until now 26,000 with 4 kids qualified you for
certain government assistance.

I wonder how many people have fallen to absolute
poverty.

To think one half the country is here.

Businesses had better start adjusting their prices.

[Capitalocracy]

6. I would be so happy to earn $26,000 a year right now. nt

[woo me with science]

7. K&R

Support Occupy Wall Street. They appear to be our only hope.