Skip to comments.Wage Growth Is Really Going Nowhere
Posted on 07/27/2014 9:22:30 AM PDT by blam
July 27, 2014
Wage growth is close to not being growth at all.
On August 1, we'll get the latest jobs report from the Bureau of Labor Statistics. Last month, the report showed that the economy added 288,000 jobs in June, with wages growing 2% year of year.
Unfortunately, when taking into account the rate of inflation, "real" wage growth was flat.
In Business Insider's latest Most Important Charts In The World feature, Ellen Zentner, senior U.S. economist at Morgan Stanley, highlighted the following chart, which shows how real wage growth has slowed to, well, no growth at all.
(Excerpt) Read more at businessinsider.com ...
I don’t know about anybody else but I haven’t heard a damn thing about a pay increase since the Kenyan rose to powah. My pay has been going down to pay for increases in everything else.
IS IT NOT all part of the plan?
Own it, democrats!
it’s going backwards ... and if you convert it to buying power, you’ll see just how bad it is.
Sounds like you need a good government job.
Obama is going to make sure of that by importing as many unskilled laborers (future Democrats) to keep wages down in the self-evident supply and demand way.
I am working LONGER hours with additional duties while my pay decreases.
Blame the Affordable Healthcare Act, a FED printing money like a drunken sailor and a Federal government that never met a regulation that it did not like.
Hundreds of thousands more dirt poor illiterate laborers dumped into the work force are just what the doctor ordered.
Thanks Chamber of Commerce.
People hate to hear that but it is the truth. If you are a bank teller making $12 an hour and you are still one 5 years from now, you will still be making around $12 an hour (in today's dollars). Maybe even a little less if inflation outpaces your paltry raises.
So as a bank teller, you need to set your sights on being a teller supervisor, then a head teller and eventually to branch manager of the bank or maybe even a regional position.
But, but that $15/hr burger flipping raise was supposed to save us all!
Government spending on goods and services is a very large part of our economy. Under Obama, government spending that flows into wages for productive people providing those goods and services has declined in relation to total government spending. What has increased is entitlement spending that does nothing for productivity since much of it goes into the pockets of people who provide nothing worthy of a wage.
Wages increase in a growing economy and higher wages are encouragement for those willing to work harder. Not much of that going on in the Obama world.
After the Kenyan got into office I was one of the first to become under-employed and am still so today. Anyway, the company I am working for now (still severely underemployed) has given me small pay raises every year and my wife received a couple before raises were terminated for them (she works for the DoD).
Our actual income has decreased every year and our taxes have gone up. Even though we have had some small pay increases the POS Government has increased our taxes every year.
Note true. Those of us on Social Security benefits have seen their payments soar by .1% since Obozo took office. If you are collecting welfare benefits of some sort, your pay has jumped almost 30% since Obozo took office, including free cell phones. Of course, it's ridiculous to think Obozo made those increases just to buy votes.
No problem. FedGov will just use the same accounting methods for reporting the economy as the VA used to report patient wait times.
I have no problem with this statistic. I have also learned you can not fight the system. The powers that be want things a certain way and they are going to have it that way.
Yes, it's easier than you think.
In summary, we badly need new leadership. The government needs to cut out a lot of its spending (foreign aid, welfare, etc.) since their version of Keynesian stimulus is not working, and taxes and regulations need to be cut so as to stimulate the private sector, not the public sector, as the Dems do.
“The key to getting around this is to not do the same job year after year. Improve your skill set, get promoted or find another higher-paying job.”
I agree, but in dying states that is easier said than done. NJ has a lot of talented people that have been laid off, and they are all competing for the same small pool of jobs. The number of worthwhile jobs available has diminshed considerably.
Naturally, moving to greener pastures is the answer (provided you can sell your home).