When adjusted for inflation, wages have remained virtually unchanged over the last 50 years, with workers today earning just 12 cents more than they did in 1972. And with inflation at its highest since 1971, Americans are feeling the pain of slow wage growth. Two-thirds of American workers said that inflation has outpaced any salary gains made in the past year. But some economists argue that the concept is merely a myth politicians use to promote their careers. So, how real is wage stagnation in America today and what does it mean for American workers? Watch the video to find out.
In 1972, the same workers earned an average of $3.88 america has come a long way in terms of wage growth. standards increase over a period of decades, that’s has outpaced any salary gains made in the past year. but some economists argue that the concept is merely a politicians win elections by promising to fix something and calculus involved in the wage stagnation debate
1970s. but it was 1979 when the gap between workers while productivity grew over three times as fast at they have, but they haven’t grown as quickly as they had we’ve gone really from an industrial era to a tech era has an impact on everyone’s lifestyle and everyone’s wage stagnation is worse for lower and middle income meanwhile, the top 0.1% saw an astonishing growth of
And there was very little raise for domestic workers now, after the 2020, with the inflation, i feel like now much more of that is done with machines and you over the next two or three decades, a lot of economists artificial intelligence, so a lot more of us might be so now, particularly if you don’t have a lot of very and that means that a lot of sort of routine office
It’s important to remember that meant goods got a lot and we still don’t really have good solutions to help economists suggest that labor dynamism also played a let’s say that you live in a particular city or any there, then they set the wages in a way that’s lower labor markets are considered highly concentrated, meaning and to discourage workers from moving to a better
Job competition with methods like non-compete agreements. agreements, meaning some 36 to 60 million private sector the non-compete clause would lead you to stay with your and if you are less likely to leave the job, you’ll be don’t see much of a reason to have it for rank and file meanwhile, unions that originally fought for higher in those industries where unionization
Stayed somewhat that a lot of researchers have been using a certain you’re actually able to buy a lot more with your nominal pce. the pce shows a much more moderate inflation over they see, ah, the percentage of low wage professions has that is a problem that’s leading to a lot of social legislation could help solve some of the biggest issues already passed. it’s dead in
The water in the senate. pretend doesn’t exist and making it sort of a lower of allow those platforms to offer health insurance, then more dynamic and let people get more the upside risk and large employers, you can work for a global firm that achieving a fair wage for all americans is vital in so if wages are stagnating for a whole bunch of people,