16 Oct 08
2 edits
Even if it is being ignored in favour of mud slinging and musings on who's joe is blowing who...
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"Income for the median household — the one in the dead middle of the income distribution — will probably be lower in 2010 than it was, amazingly enough, a full decade earlier. That hasn’t happened since the 1930s. Already, median pay today is slightly lower than it was in 2000, and by 2010, could end up more than 5 percent lower than its old peak."
http://www.nytimes.com/2008/10/15/business/economy/15leonhardt.html?em
16 Oct 08
Originally posted by uzlessThe American worker has been earning less since 1970ish when counting inflation, spending power/ earnings.
Even if it is being ignored in favour of mud slinging and musings on who's joe is blowing who...
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"Income for the median household — the one in the dead middle of the income distribution — will probably be lower in 2010 than it was, amazingly enough, a full decade earlier. Tha ...[text shortened]... an its old peak."
http://www.nytimes.com/2008/10/15/business/economy/15leonhardt.html?em
16 Oct 08
Originally posted by cheshirecatstevens"What will make this recession different, no matter how deep or shallow it is, is that it’s following an expansion in which most families received little or no raise. The median household made $50,200 last year, slightly less than the $50,600 that the equivalent household earned in 2000, according to the Census Bureau. That’s the first time on record that income failed to set a new record in an economic expansion."
The American worker has been earning less since 1970ish when counting inflation, spending power/ earnings.
17 Oct 08
Originally posted by cheshirecatstevensYep -- and let's be clear about which party has been in power for most of the time since then, and what kind of policies they've pursued.
The American worker has been earning less since 1970ish when counting inflation, spending power/ earnings.