PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: MKTBUZZ who started this subject	1/23/2004 2:15:08 PM
From: Kenneth E. Phillipps	Read Replies (1) of 769670

Gap in Wages Growing Again for U.S. Workers Friday, January 23, 2004 12:48 AM ET Printer-friendly version WASHINGTON -- Wage inequality -- the gap between America's highest and lowest earners -- has started widening again, a situation with election-year ramifications, Friday's Wall Street Journal reported. The trend is a reflection of the job market's exceptionally weak response to the current economic recovery, as well as long-term technological and economic changes that have eroded the bargaining power of America's lowest-paid workers. The data show that young workers -- who currently have fewer job prospects than a few years ago -- and men, in particular, are bearing the brunt. New data from the Labor Department show that after adjustment for inflation, salaries of the country's lowest-paid workers -- those who fall just inside the bottom 10% of the pay range -- fell 0.3% last year from 2002. Meanwhile, the salaries of the highest paid workers -- those who are just inside the top 10% -- were unchanged. The divergence appeared to grow in the fourth quarter as higher- paid workers gained ground and lower-paid workers slipped further, based on comparisons with original year-earlier data that are subject to revision. The numbers continue a movement to greater wage inequality that began around the time President Bush succeeded President Clinton and the economy slid into recession three years ago. The trend represents a reversal from the late 1990s, when the lowest unemployment rates in a generation had enabled the lowest-paid workers to keep pace with those at the top. Wall Street Journal Staff Reporter Greg Ip contributed to this report. quicken.com

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