Wednesday, May 8, 2013

Has your Wages remained FLAT over the past 4 years?

Stock markets and corporate profits are breaking records. The economy suddenly looks brighter after the government's surprising report Friday that employers added 635,000 jobs the past three months. 
But instead of celebrating, many working Americans are borrowing a line from the 1996 movie Jerry Maguire: "Show me the money." 
Hourly wages ticked up 4 cents in April to an average $23.87, rising at about the same tepid 2% annual pace since the recovery began in mid-2009.
But taking inflation into account, they're virtually flat. Workers who rely on paychecks for their income have been running in place, financially speaking. Adjusting for inflation, an average worker who was paid $49,650 at the end of 2009 is making about $545 less now — and that's before taxes and deductions. 
Stagnant wages aren't only tough on workers — the American economy is paying a price, too. Living standards aren't rising. Consumer spending, which is 70% of the economy, is more restrained. And the recovery advances at a slower pace.
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