Typical Hourly Wage Went Up Just $1.23 In The Last 36 Years

[ensho]

http://thinkprogress.org/economy/2011/10/27/355082/chart-hourly-wage-36-years/


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As noted by the Half in Ten Campaign’s new report, “Restoring Shared Prosperity: Strategies to Cut Poverty and Expand Economic Growth,” the hourly wage of a typical worker grew from $14.73 in 1973 to $15.96 in 2009, for a raise in real terms (after accounting for inflation) of $1.23 over 36 years. Yes, you read that right. Only $1.23, an 8.4 percent increase over the last 36 years.

Top earners, meanwhile, saw a gain of $12.70 per hour gain (30 percent) over the same time frame. The growing gaps between the wealthy and everyone else could not be more stark.

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A report released this week by the Congressional Budget Office found that between 1979 and 2007, income grew 275 percent for the richest one percent of Americans, but by just 18 percent for those at the bottom. The federal government can do something about this — from investing in our infrastructure to improving education. It can help bolster demand and the Half in Ten Campaign offers some good ideas to get us started.
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[Fumesucker]

1. "Mission Accomplished!" -The Powers That Be..

[leveymg]

2. Real purchasing power for that average wage is way, way down. Now unlivable.

The loss of purchasing power is intolerable and unsustainable. There must be a redistribution downward, a 180 degree U-turn in the trend.

[Selatius]

3. There were more factories and textile mills in 1979 compared to 2007 or 2011.

Out-sourcing really started happening in the 1980s going into the 1990s and 2000s.

[Tippy]

4. Pathetic.....$1.23 in 36 years......

[quinnox]

5. That is a 3 and a half cents raise a year

These damn folks are rolling in the money! And they demand an increase in the minimum wage? How dare they! (sarcasm)