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Mind the wage gap Cumulative nominal average hourly earnings, actual and hypothetical if they had grown at 3.5% since the recession began, 2007-2018
In truth, the economy (and workers) could benefit from consistent wage growth significantly higher than 3.5 percent for an extended period of time. This figure shows the cumulative gap between actual average private-sector nominal hourly earnings and what these earnings would be today had they matched the 3.5 percent wage target since the start of the Great Recession in late 2007. The latest data indicate that average hourly earnings would be $3.41 higher today under this hypothetical scenario. Consistent wage growth at or above 3.5 percent is necessary for workers to recoup some of these unrealized earnings.
Workers’ share of corporate income hasn’t recovered Share of corporate-sector income received by workers over recent business cycles,
The end result of the Revolution was a dictatorship and a Euro-wide war. Napoleon eventually lost, but the bureaucratic and judicial reforms he instituted forever changed monarchical Europe.
originally posted by: hopenotfeariswhatweneed
a reply to: toysforadults
My prediction is the rich will build a wall to keep the undesirables out...
guess what, pay hasn't.
originally posted by: toysforadults
a reply to: scraedtosleep
as others would say that's just lipstick on a pig
the problem is the breakdown of supply and demand due to increased productivity from technology, this has given the leverage to the people with capital and taken leverage away from those producing by adding to the labor pool
we are in a new paradigm that's going to require new ideas
originally posted by: toysforadults
a reply to: tetra50
I agree, this entire society is a though experiment and it's days are numbered. it's pretty obvious when you really open your eyes that this way of life is totally unsustainable and I'm obviously not the only one capable of seeing that clear as day
it's fragility is also glaringly obvious
how much longer can they maintain control?
originally posted by: Phage
a reply to: Lumenari
First off, California spends more than it makes.
No.
www.sacbee.com...
SACRAMENTO — California has come a long way to dig itself out of budget deficits, but the state remains on shaky ground due to nearly $400 billion in unfunded liabilities and debt from public pensions, retiree health care and bonds, financial analysts say.
“Yes, the state’s budget is balanced if you are looking at what they are required to spend cash on this year, but not when you look at their expenses,” said Gabe Petek, a credit analyst with Standard & Poor’s.
we are in a new paradigm that's going to require new ideas