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Why Wages Are Finally Rising, 10 Years After the Recession - The New York Times
Why Wages Are Finally Rising, 10 Years After the Recession
Workers at lower end of pay scale getting most benefit from rising wages
Workers at the lower end of the pay scale finally are getting the most benefit from rising wages
There's the accountabililty.
comments?
I guess you’re saying that the accountability I mention has occurred by “Workers at the lower end of the pay scale finally are getting the most benefit from rising wages” and that “Workers at the lower end of the pay scale finally are getting the most benefit from rising wages”.
First of all, what you say would not complete accountability because the rich and large corps continue getting the increased income from the giveaway tax-cuts they neither need, deserve nor serve the economy.
Several points noticed in one of your linked articles:
“the minimum-wage increases account for a quarter to a third of low-wage workers’ gains over the past three years.”
Meaning, if not for what the government did that increased the income for the “workers at the lower end of the pay scale” then they would not be “getting the most benefit from rising wages”.
And,
African-American workers have seen smaller gains over the course of the recovery, for example.
Why do you suppose that is?
Lastly,
“Average hourly earnings in April were 3.2 percent higher than a year earlier, the ninth straight month in which growth topped 3 percent, the Labor Department reported Friday.”
Let’s also take a look at production and nonsupervisory employee figures from the BLS:
Real average weekly earnings increased 0.2 percent over the month due to the increase in real average
hourly earnings combined with no change in average weekly hours.
From September 2018 to September 2019, real average hourly earnings increased 1.9 percent, seasonally adjusted. The change in real average hourly earnings combined with a 0.3-percent decrease in the average workweek resulted in a 1.6-percent increase in real average weekly earnings over this period.
Wow. I guess things really changed from those 9 straight mos. through April 2019 of topping 3% in your linked article to end up at 1.9% hourly and 1.6% weekly for the 12 mos. ending Aug. 2019 as given in the actual BLS Summary Report.
“Real” meaning adjusted for inflation. Weekly figures are more telling than hourly as hourly does not account for actual hrs. worked as weekly does. As you can see, it makes a difference.
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I’m taking my source as given over your linked articles. Your claims are insignificant and refuted.