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Wages Have Risen Due to Minimum Wage Hikes, Fed's Obama Policies
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Dec. 4, 2019 | WAGES |… The data on this are very clear. The weekly wage for the median worker, a worker in the middle of the wage distribution, has outpaced prices by just under 5 percent over the last four years, translating into an annual rate of real wage growth of 1.1 percent. The weekly real wage for workers at the cutoff for the bottom tenth of the wage distribution has risen by almost 10 percent over the last four years, an average of 2.2 percent a year. These rates of wage growth aren’t spectacular, but in a context where we have gone more than four decades in which the typical worker has seen little benefit from economic growth, this is a positive sign. It also confirms the view that some of us have been pushing: that low rates of unemployment give workers the bargaining power necessary to secure real wage gains... TruthOut
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