January 30, 2013

Vast majority of wage earners are working harder, and for not much more: Trends in U.S. work hours and wages over 1979–2007 | Economic Policy Institute

Vast majority of wage earners are working harder, and for not much more: Trends in U.S. work hours and wages over 1979–2007 | Economic Policy Institute
"As is well-documented in The State of Working America, 12th Edition (Mishel et al. 2012), the U.S. economy over the past decade has worked primarily to the advantage of a small sliver of winners. Meanwhile, the vast majority of workers have not fared well—a trend that stretches back to the late 1970s. Contrary to some political rhetoric of late, this is not due to lack of effort; the broad middle class has increased its productivity, upgraded its educational attainment, and worked more hours. In other words, workers have been offering more to the economy and the labor market, and what they have received in return—particularly in the form of real hourly wages—has been very disappointing."