Wednesday, March 16, 2011

Public and Private Workers: More similarities than differences

The image below is from an interesting study from the Economic Policy Institute titled "The Sad But True Story of Wages in America". The main thing that I take away from this article is that while private and public employees have been pitted against each other recently, there are far more serious economic issues that deserved to be studied in regards to wage stagnation.  Some interesting points from the study:

• The typical worker has had stagnating wages for a long time, despite enjoying some wage growth during the economic recovery of the late 1990s. While productivity grew 80% between 1979 and 2009, the hourly wage of the median worker grew by only 10.1%, with all of this wage growth occurring from 1996 to 2002, reflecting the strong economic recovery of the late 1990s.
http://www.epi.org/publications/entry/the_sad_but_true_story_of_wages_in_america

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