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Pastimes : Let's Talk About Our Feelings!!! -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (96918)	3/2/2005 6:05:30 PM
From: cosmicforce	Respond to of 108807

It's not keeping up with inflation or population growth - average daily wage is way down. Lawn care is a growth industry. epinet.org The jobless recovery has persisted long enough to dampen wage growth, and in some cases, wages are even falling in real terms, eroding living standards for some working families despite the fact that they have maintained their employment. An analysis of the data makes two points clear: Inflation-adjusted hourly wages fell for middle- and low-wage men and women, making 2003 the worst year for wage growth over the 1998-2003 period. Despite the acceleration of gross domestic product (GDP) growth in late 2003, the wage growth of production, non-supervisory workers (over 80% of the workforce) actually slowed in this period. High unemployment slows median wage growth The examination of real wage trends—that is, wages adjusted for inflation—is the best way to track the impact of the weak job market on living standards. But because inflation is driven by many other forces—such as rising oil prices or health care costs that are not directly related to labor market conditions—to most directly gauge the impact of labor market conditions on wages, nominal wages (i.e, actual wages without any inflation adjustment) must first be examined.