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Thread: Middle Wage Workers and the Recession

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    Middle Wage Workers and the Recession

    Middle-Wage Workers and the Recession - NYTimes.com

    College graduates have received a raise since the recession began. Every other educational group has taken a pay cut.

    ...Workers near the top of ladder — at the 90th percentile, making $1,820 a week — have received a nice 8 percent pay increase since the recession began in the fourth quarter of 2007. Workers at the dead middle of the ladder, making $752 a week, have received a 3 percent raise. Workers near the bottom — at the 10th percentile, making $354 a week — have received only a 1 percent raise. (This data is collected quarterly, which is why the overall picture may look different than in the earlier chart, which showed annual data.)

    Both of these data series make a strong case that middle-class workers who’ve held onto their jobs have weathered the Great Recession better than low-income workers. Why would this be, given that unemployment has risen more in middle-wage occupations? It’s not entirely clear.
    Interesting reading on the wage divide in the U.S. mid-recession.

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    Re: Middle Wage Workers and the Recession

    odd that it doesn't seem to take into account the movement between the various rungs of the ladders.

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    Re: Middle Wage Workers and the Recession

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    Re: Middle Wage Workers and the Recession

    ...Workers near the top of ladder — at the 90th percentile, making $1,820 a week — have received a nice 8 percent pay increase since the recession began in the fourth quarter of 2007. Workers at the dead middle of the ladder, making $752 a week, have received a 3 percent raise. Workers near the bottom — at the 10th percentile, making $354 a week — have received only a 1 percent raise. (This data is collected quarterly, which is why the overall picture may look different than in the earlier chart, which showed annual data.)
    Fewer people are doing more work, because it's too costly for a company to hire more personel.
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