50% of US Workers Made Less than $26,000 in 2010

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50% of US Workers Made Less than $26,000 in 2010

Is this a trend that an election can reverse?

By jaunte

Economy • October 2011 • Views: 1,481

Reporting on today’s release of Wage Statistics for 2010

Derek Thompson, The Atlantic:

1) Half of all workers made less than $26,364, the median wage in 2010. That means the typical wage is at its lowest level since 1999, after adjusting for inflation.

2) The number of millionaires increased by about 20 percent.

3) The size of the missing workforce is 10 million. The number of working people fell by 5.2 million since 2007. But that’s not the entire job deficit, because, based on population growth estimates, 4.5 million more would have joined the workforce between 2007 and 2011. Add it up, and you get a 10-million-worker gap.

More at The Atlantic

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5 comments

b_sharp Thu, Oct 20, 2011 5:36:10pm

I expect someone from the right will claim that the median is the wrong measure and want to use the mean.

FemNaziBitch Thu, Oct 20, 2011 6:06:28pm

I believe at that income level, many would qualify for welfare-type benefits.

Gus Thu, Oct 20, 2011 6:41:34pm

I saw this flash by early in the day. It’s outrageous. What kind of country have we become? An ever growing divide between the haves and the have nots. And if you look at the graph you’ll notice the decline begins right about the time of the Meltdown of 2008.

True wage stagnation began with Ronald Reagan and his policies benefiting the super rich. And in the past 3 years the only getting any form of real assistance from the Feds has been the banks who in turn tightened credit rules (while they’re still getting 0 percent interest on loans from the Fed) and are now sitting on a pile of cash.

And “Is this a trend that an election can reverse?” My answer would be no. This trend began in 1980 and will continue as long as Americans refuse to reassess their values regarding financial equity and equal worth for all.

Gus Thu, Oct 20, 2011 8:19:13pm

Now compare this with the average NBA salary of 5.15 million dollars a year.

(I Stand By What I Said Whatever It Was) Fri, Oct 21, 2011 1:26:23am

Sad. Poor America.

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