U.S. Workers Earned Less in 2009 Than in 2008

[Omaha Steve]

http://blog.aflcio.org/2010/12/23/u-s-workers-earned-less-in-2009-than-in-2008/

by Tula Connell, Dec 23, 2010



Looks like Santa is bringing a lump of something to working families, and it isn’t a fatter paycheck.

New data show America’s workers earned less in 2009 than in 2008, according to the Bureau of Labor Statistics. Compensation was down by 3.2 percent in 2009 with declines in construction and manufacturing fueling the plunge. St. Louis County, the hardest hit, saw a decline of 11.5 percent.

For those lucky enough to have a job, average pay increased by 1.2 percent. But overall income inequality is now at its worst since 1928. As the chart by the Economic Policy Institute (EPI) shows here, between 1979 and 2005, households at the bottom fifth of the income scale have seen an average, inflation-adjusted income growth of just $200. The $200 figure does not represent an average annual increase in income, but rather an increase of $200 over the entire 26-year period. By contrast, a small number of households at the top 0.1% of the income scale saw average income growth of almost $6 million over that same period.

In addition, the “wealth gap,” which differs from the income gap because it measures total net worth, is now 225 times greater between the richest 1 percent and the median family net worth.

FULL story at link.

[valerief]

1. But the rich are going to create jobs with that money

In China

[daleanime]

2. Some how Republicans never seem to care about...

things like this.:banghead:

[xchrom]

3. recommend

[FogerRox]

4. DOH! Steve, Individual median income has not kept up with inflation for 30 yrs

right now its @ 27k. I almost cant fathom that, 50% of the people in this country make 27 grand or less.

[FogerRox]

5. Ohyeah, Knr