Monday, April 18, 2011

The Big Squeeze

I read the below passage from a book entitled, The Big Squeeze: Tough Times for the American Worker. The Leonard Cohen song, "Everybody Knows", just keeps playing in my head... "Since 1979, hourly earnings for 80 percent of American workers (those in private-sector, nonsupervisory jobs) have risen by just 1 percent, after inflation. The average hourly wage was $17.71 at the end of 2007. For male workers, the average wage has actually slid by 5 percent since 1979. Worker productivity, meanwhile, has climbed to 60 percent. If wages had kept pace with productivity, the average full-time worker would be earning $58,000 a year; $36,000 was the average in 2007. The nation's economic pie is growing, but corporations by and large have not given their worker's a bigger piece."


1 comment:

tim snead said...

But I thought we made the pie higher.