November 5, 2015

Real economics: Wages

The typical female worker made $1,337 less last year than she did in 2007.- Bernie Sanders

The minimum wage if it had gone up at the rate of Yale College tuition since 1970: $26

U.S. wages and benefits grew in the spring at the slowest pace in 33 years

American exceptionalism: The United States is the only nation among advanced economies that does not provide a legal guarantee of paid leave. New Zealand and Australia ensure respectively 30 and 28 days of paid leave, and Canada's federal government stipulates 19 paid days, with some provinces adding on additional time. Even in Japan, where thousands commit suicide every year because of work-related stress, all employees are guaranteed 10 paid vacation days.


Economic Policy Institute
A new report finds that wages of manufacturing workers have fallen 4.4% in the past decade- "almost three times faster than for workers as a whole."

Among all employees nationally, 56 percent are hourly workers, and 32 percent of these, or more than 21 million, earn less than $10.10 per hour, according to University of Virginia researchers in the Weldon Cooper Center for Public Service’s Demographics Research Group.

The Labor Department reports that the 13 states that raised their minimum wage in 2014 have added jobs faster than those that didn't.

The rate of poverty level wages for women has declined over the last last three-and-a-half decades, especially among those 35 to 44 years old.

62 percent of all Americans make $20 or less an hour at this point.

Nine of the top ten occupations in the U.S. pay an average wage of less than $35,000 a year..

Congressional Research Service - The peak value of the minimum wage in real terms was reached in 1968. To equal the purchasing power of the minimum wage in 1968 ($10.69), the current minimum wage’s real value ($7.25) would have to increase by $3.44 (or 47%).

40% Of US workers now earn less than 1968 minimum wage

@Harpers - Factor by which the average compensation for CEOs of fast-food companies has increased since 2000: 7


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