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Average Wage Increase Over Time

JaxsonRaine
Posts: 3,606
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5/27/2012 12:36:04 PM
Posted: 4 years ago
I've seen arguments put forth that wages aren't increasing fast enough for Americans, but that never seemed to fit well with what I've seen. Then, I came across an economic mobility study by the treasury that contradicts information about average wages.

Basically, if you take the bottom 20%'s wages over the last 30 years and adjust for cost of living, the wage has gone down. But, the treasury study finds that the mean wage increase for Americans from 1996 to 2005 was 24%, adjusted for inflation.

Not only that, but more than half of Americans that were in the bottom 20% in 1996 were no longer in that group in 2005. Similarly, the second 20% had 50% attain a higher bracket in the same time period.

So, it seems like the groups of people who aren't getting 'enough' of a raise overtime would be unskilled workers, such as teens and illegals/day laborers.

Basically, I didn't realize that the US had so much upward mobility.

http://www.treasury.gov...
twocupcakes: 15 = 13
Wnope
Posts: 6,924
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5/28/2012 5:22:10 PM
Posted: 4 years ago
At 5/27/2012 12:36:04 PM, JaxsonRaine wrote:
I've seen arguments put forth that wages aren't increasing fast enough for Americans, but that never seemed to fit well with what I've seen. Then, I came across an economic mobility study by the treasury that contradicts information about average wages.

Basically, if you take the bottom 20%'s wages over the last 30 years and adjust for cost of living, the wage has gone down. But, the treasury study finds that the mean wage increase for Americans from 1996 to 2005 was 24%, adjusted for inflation.

Not only that, but more than half of Americans that were in the bottom 20% in 1996 were no longer in that group in 2005. Similarly, the second 20% had 50% attain a higher bracket in the same time period.

So, it seems like the groups of people who aren't getting 'enough' of a raise overtime would be unskilled workers, such as teens and illegals/day laborers.

Basically, I didn't realize that the US had so much upward mobility.

http://www.treasury.gov...

Fascinating article. I never knew this about income mobility.