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Median Wages Have PLUMMETED Since 1969
Wages need to rise to keep up with inflation, especially since the value of the dollar has been trashed:
But Michael Greenstone and Adam Looney of the Hamilton Project document (hat tip Ezra Klein) that real median earnings for men declined between 1969 and 2009:
And wages have only kept dropping since 2009.
In addition – when those who have only part-time work are taken into account – we have depression-level unemployment.
As Klein notes:
When you take all men, not just those working fulltime, into account, the slight decline in the above graph becomes a plummet of 28 percent in median real wages from 1969 to 2009.
The bottom line is that – due to idiotic government policy – most of the jobs being created are part-time and low wage jobs.
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weather girls
Jackass.
Indeed!
"The bottom line is that – due to idiotic government policy – most of the jobs being created are part-time and low wagejobs."
What on earth is making you think the policy is idiotic? Diabolical, absolutely, but completely intended and pretty much perfectly executed.
When does this end?
I want to see a bright light light somewhere but all I see are QE-induced market price inflation.
I see increased involvement in wars across Africa and the Middle East.
I see increasing fascism in the US.
It's all urine.
Yeah what you know,and" They" said it was only rainning!
>>When does this end?
When jew banker is no more.
Please, no vitriolic outbursts. It demeans the site. The Daily Reckoning provides the best quote:
To learn who rules over you, simply learn who you are not allowed to criticise.
— Voltaire
McGDP
Fighting inflation is like fighting the wind or the tide........YOU CAN'T.
A more accurate way to evaluate real earnings over time would be to chart how much Gold you can afford to buy at the end of each month after all otherpayments are made...