Tuesday, September 8, 2015

Unemployment is Down, but Wages Still Aren't Rising

The National Employment Law Project put together the wage data for the most common occupations in America, and they show that since 2008 real wages are down for all of them. Above, the ten most common occupations in the highest quintile of income; below the ten most common occupations in the bottom quintile. With the Chinese economy tanking and Europe struggling, I expect the U.S. economy to be headed downward soon, which will mean that the past six years of economic growth will still leave wages and family incomes lower than they were before the last recession. It's a depressing pictures and it does a lot to explain the success of both Donald Trump and Bernie Sanders.

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